Allianz Financial Statement

FINANCIAL STATEMENT ANALYSIS FOR ALLIANZ YEAR 2013/2012
INTRODUCTION
Allianz is an international service company. The Allianz Group is a global financial services provider.
Over 83 million retail and corporate clients in more than 70 countries rely on our knowledge, global
presence, financial strength and solidity. In fiscal year 2013 around 148,000 employees worldwide
achieved total revenues of 110.8 billion euros and an operating profit of 10.1 billion euros. Allianz SE,
the parent company, is headquartered in Munich, Germany.
Our product portfolio includes a wide range of Property-Casualty and Life/Health insurance products
for both private and corporate customers. We are the leading property-casualty insurer globally and
rank among the top five in the life/health insurance business.
Most of our insurance markets are served by local Allianz companies while selected business lines are
run globally such as Global Corporate Customers, Credit Insurance, Assistance Services, Worldwide
Care, Global Automotive and Reinsurance.

______________________________________________________________________________________________________________
Asset Management
As of December 31, 2013, with approximately 1,770 billion euros assets under management, we are
one of the largest asset managers in the world managing assets with active investment strategies.
Since January 1, 2012, we run the Asset Management business out of two distinct investment
management businesses, PIMCO and Allianz Global Investors (AllianzGI). Both units operate under
Allianz Asset Management (AAM). We intend to tailor products, solutions and distribution that best
meet our clients needs, and further strengthen both brands.
Particular strongholds include the United States, Germany, France, Italy, the United Kingdom and the
Asia-Pacific region. As of December 31, 2013, Allianz managed 1,361 billion euros of third-party
assets of which the share from institutional clients amounted to 63% while 37% came from retail
clients.
Liquidity Ratio
Liquidity ratios show a company's ability to meet and pay its short-term debt obligations. The three
main ratios are current, quick and cash. The current ratio is the least conservative ratio, in that it
includes the most assets with the ability to meet short-term debt obligations. The cash ratio is the most
conservative as it includes cash and marketable securities while excluding any other assets.
Current Asset
RM 663,651
Current Liability
RM 613,768
Liquidity Ratio
1.08
Activity Ratio

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Consolidated Balance Sheet as of December 31, 2013

Assets
12/31/2013
RM
Cash and cash equivalents
12/31/2012
RM
Change
11,207
12,437
-9.9%
7,245
7,283
-0.5%
Investments2
411,015
401,628
2.3%
Loans and advances to banks and customers
116,800
119,369
-2.2%
Financial assets carried
81,064
71,197
13.9%
Reinsurance assets
12,609
13,254
-4.9%
Deferred acquisition costs
22,203
19,452
14.1%
1,508
1,526
-1.2%
34,632
35,196
-1.6%
698,283
681,342
147
15
880.0%
13,100
13,090
0.1%
711,530
694,447
2.5%
Deferred tax assets
Other assets
Total Current Asset

Non-current assets and assets of disposal groups
classified as held for sale
Intangible assets
Total assets
Liabilities and equity
Financial liabilities carried at fair value through

income
12/31/2013
RM
12/31/2012
RM
Change
6,013
5,397
11.4%
Liabilities to banks and customers
23,109
22,425
3.1%
Unearned premiums
18,212
17,939
1.5%

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Assets
12/31/2013
RM
12/31/2012
RM
Change
Reserves for loss and loss adjustment expenses
66,566
72,540
-8.2%
Reserves for insurance and investment contracts
404,072
390,985
3.3%
81,064
71,197
13.9%
3,178
4,035
-21.2%
36,883
37,392
-1.4%
8,030
7,960
0.9%
11,554
11,614
-0.5%
658,681
641,484
2.7%
50,084
50,388
-0.6%
2,765
2,575
7.4%
52,849
52,963
-0.2%
711,530
694,447
2.5%
Financial liabilities for unit-linked contracts
Deferred tax liabilities
Other liabilities
Certificated liabilities
Subordinated liabilities
Total liabilities
Shareholders' equity
Non-controlling interests
Total equity
Total liabilities and equity
As of December 31, 2013 and 2012, no financial assets carried at fair value through income are pledged to
creditors and can be sold or repledged. (As of February 27, 2014)
2
As of December 31, 2013, EUR 2,112 mn (2012: EUR 2,460 mn) are pledged to creditors and can be sold or repledged. (As of February
27, 2014)
1
Consolidated Income Statements 2013

2013
RM
2012
RM
Change
Cross premiums written
72,051
72,086
0.0%
Ceded premiums written
-4,541
-5,336
-14.9%
-882
-705
25.1%
66,628
66,045
0.9%
20,918
21,084
-0.8%
Change in unearned premiums
Premiums earned (net)

Interest and similar income

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2013
RM
2012
RM
Change
-1,842
-511
260.5%
4,285
4,327
-1.0%
10,492
9,812
6.9%
Other income
209
214
-2.3%
Income from fully consolidated private equity investments
726
788
-7.9%
101,416
101,759
-0.3%
Claims and insurance benefits incurred (gross)
-50,178
-51,744
-3.0%
Claims and insurance benefits incurred (ceded)
2,376
2,871
-17.2%
-47,802
-48,873
-2.2%
-13,990
-14,360
-2.6%
-1,322
-1,477
-10.5%
-86
-111
-22.5%
Impairments of investments (net)
-611
-934
-34.6%
Investment expenses
-905
-876
3.3%
-22,865
-22,046
3.7%
-3,038
-2,895
4.9%
Amortization of intangible assets
-136
-259
-47.5%
Restructuring changes
-170
-268
-36.6%
Other expenses
-106
-94
12.8%
Expenses from fully consolidated private equity investments
-741
-847
-12.5%
-91,772
-93,040
-1.4%
Income from financial assets and liabilities carried at fair value through
income (net)
Realized gains/losses (net)
Fee and commission income
Total income
Claims and insurance benefits incurred (net)

Change in reserves for insurance and investment contracts (net)
Interest expenses
Loan loss provisions
Acquisition and administrative expenses (net)
Fee and commission expenses
Total expenses

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2013
RM
Income before income taxes

Income taxes
Net income
2012
RM
Change
9,644
8,719
10.6%
-3,300
-3,161
4.4%
6,344
5,558
14.1%
348
327
6.4%
5,996
5,231
14.6%
13.23
11.56
14.4%
13.05
11.48
13.7%
Net income, attributable to:
Non-controlling interests
Shareholders
Basic earnings per share (EUR)

Diluted earnings per share (EUR)

Allianz Financial Statement

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FINANCIAL STATEMENT ANALYSIS FOR ALLIANZ YEAR 2013/2012

FINANCIAL STATEMENT ANALYSIS FOR ALLIANZ YEAR 2013/2012

FINANCIAL STATEMENT ANALYSIS FOR ALLIANZ YEAR 2013/2012

Consolidated Balance Sheet as of December 31, 2013

Cash and cash equivalents

Loans and advances to banks and customers

Financial assets carried

Deferred acquisition costs

Deferred tax assets

Total Current Asset

Liabilities and equity

Financial liabilities carried at fair value through

Liabilities to banks and customers

FINANCIAL STATEMENT ANALYSIS FOR ALLIANZ YEAR 2013/2012

Reserves for loss and loss adjustment expenses

Reserves for insurance and investment contracts

Financial liabilities for unit-linked contracts

Deferred tax liabilities

Total liabilities and equity

Consolidated Income Statements 2013

Cross premiums written

Ceded premiums written

Change in unearned premiums

Premiums earned (net)

FINANCIAL STATEMENT ANALYSIS FOR ALLIANZ YEAR 2013/2012

Income from fully consolidated private equity investments

Claims and insurance benefits incurred (gross)

Claims and insurance benefits incurred (ceded)

Impairments of investments (net)

Amortization of intangible assets

Expenses from fully consolidated private equity investments

Realized gains/losses (net)

Fee and commission income

Claims and insurance benefits incurred (net)

Loan loss provisions

Acquisition and administrative expenses (net)

Fee and commission expenses

FINANCIAL STATEMENT ANALYSIS FOR ALLIANZ YEAR 2013/2012

Income before income taxes

Net income, attributable to:

Basic earnings per share (EUR)

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