Intro
To Our Investors - Slide
To Our Investors
Gorporate Governance
Group Management Report
Consolidated Financial Statements

Allianz Group

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Shareholders'
equityAAStandard & Poor's rating since 2007
€ 44.9 bn
Dividend per share (proposal)
€ 4.50
Total revenues
€ 103.6 bn
Operating profit
€ 7,866 mn
Net income
€ 2,804 mn
Conglomerate solvency
179 %

Segment Overview: Property-Casualty

  • Stable performance despite the highest ever losses from natural catastrophes.
  • Gross premiums written grew by 2.0 % to € 44.8 bn.
  • Operating profit decreased by 2.5 % to € 4.2 bn.
€ 4,196 mn 97.8 %
Operating profit Combined ratio

Gross premiums1, 2

Property-Casualty chart
1 After elimination of transactions between Allianz Group companies in different geographic regions and different segments. 2 Gross premiums written from our specialty lines have been allocated to the respective geographic regions.
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Segment Overview: Life/Health

  • Result impacted by low investment result.
  • Revenues down 7.4 % to € 52.9 bn.
  • Operating investment result decreased by 6.9 % to € 14.9 bn.
€ 2,420 mn 58 bps
Operating profit Margin on reserves

Statutory premiums1

Life/Health chart
1 After elimination of transactions between Allianz Group companies in different geographic regions and different segments.
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Segment Overview: Asset Management

  • Another excellent year for Asset Management.
  • Third-party net inflows of € 38 bn.
  • Outstanding operating profit of € 2.3 bn.
€ 2,256 mn € 1,657 bn
Operating profit Total assets under management

Third - party assets under management3

Asset Management chart
3 Based on the origination of assets by the asset management company. 4 Consists of third-party assets managed by other Allianz Group companies (approximately € 26 bn as of December 31, 2011 and € 19 bn as of December 31, 2010, respectively).
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Allianz at a Glance

    2011 Change from previous year 2010 2009 2008 2007 2006 2005 More details
1Figures prior to 2008 have not been restated to reflect the change in the Allianz Group’s accounting policy, effective July 1, 2010. For further information please refer to note 4 of our consolidated financial statements. 2Total revenues comprise statutory gross premiums written in Property-Casualty and Life/Health, operating revenues in Asset Management and total revenues in Corporate and Other (Banking). 3Figures do not reflect changes in the presentation implemented in 2009. 4The Allianz Group uses operating profit as a key financial indicator to assess the performance of its business segments and the Group as a whole. 5Following the announcement of the sale on August 31, 2008, Dresdner Bank was classified as held for sale and discontinued operations. Therefore, all revenue and profit figures presented for our continuing business do not include the parts of Dresdner Bank that we sold to Commerzbank on January 12, 2009. Starting as of 2006 the results from these operations are presented in a separate net income line "Net income (loss) from discontinued operations, net of income taxes". 6Proposal. 7Dividend sum based on total amount of shares. Actual dividend payment will be reduced by the dividend amount attributable to treasury shares.
Income Statement1                    
Total revenues2 € mn 103,560 (2.7 %) 106,451 97,385 92,568 97,689 94,8733 100,9673
Operating profit4 € mn 7,866 (4.6 %) 8,243 7,044 7,455 10,320 9,2193 8,0033
Net income from continuing operations5 € mn 2,804 (46.2 %) 5,209 4,650 4,268 7,991 7,843
Net income (loss) from discontinued operations, net of income taxes5 € mn (395) (6,373) 723 467
Net income (loss) € mn 2,804 (46.2 %) 5,209 4,255 (2,105) 8,714 8,310 5,766
Balance Sheet1 as of December 31,                    
Total assets € mn 641,472 2.6 % 624,945 583,717 954,999 1,061,149 1,110,081 1,054,656
Shareholders' equity € mn 44,915 1.0 % 44,491 40,108 33,720 47,753 49,650 38,656
Non-controlling interests € mn 2,338 12.9 % 2,071 2,121 3,564 3,628 7,180 8,386  
Share Information                    
Basic earnings per share1 5.63 (49.7 %) 11.20 9.33 (5.25) 18.00 17.09 11.24  
Diluted earnings per share1 5.48 (50.7 %) 11.12 9.30 (5.29) 17.71 16.78 11.14  
Dividend per share 4.506 4.50 4.10 3.50 5.50 3.80 2.00
Total dividend € mn 2,0496,7 0.8 % 2,032 1,850 1,580 2,472 1,642 811
Share price as of December 31, 73.91 (16.9 %) 88.93 87.15 75.00 147.95 154.76 127.94
Market capitalization as of December 31, € mn 33,651 (16,7%) 40,419 39,557 33,979 66,600 66,880 51,949
Other Data                    
Total assets under management as of December 31, € mn 1,656,993 9.2 % 1,517,538 1,202,122 950,548 1,009,586 1,011,802 977,957
thereof: Third-party assets under management as of December 31, € mn 1,281,256 10.1% 1,163,982 925,699 703,478 764,621 763,855 742,937
Employees   141,938 (6.2 %) 151,338 153,203 182,865 181,207 166,505 177,625