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Interim Report Third Quarter 2014

Interim Report Third Quarter and First Nine Months of 2014    Allianz Group20 Property-Casualty insurance operations by reportable segments – first nine months Property-Casualty insurance operations by reportable segments € mn Gross premiums written Premiums earned (net) Operating profit (loss)  internal1 nine months ended 30 September 2014 2013 2014 2013 2014 2013 2014 2013 Germany2,3 7,853 7,554 7,837 7,576 5,858 5,624 1,004 290 Switzerland 1,356 1,364 1,346 1,364 1,073 1,066 148 140 Austria 781 776 781 776 625 610 56 44 German Speaking Countries3 9,990 9,726 9,964 9,716 7,556 7,319 1,208 478 Italy4 2,906 2,865 2,821 2,865 2,898 2,955 732 879 France 3,309 3,322 3,309 3,322 2,940 2,853 377 306 Benelux5 905 930 905 927 796 813 68 72 Turkey6 765 681 688 681 670 517 69 67 Greece 83 83 83 83 67 64 13 15 Africa 77 72 77 73 46 41 7 6 Western & Southern Europe7 8,045 7,953 7,882 7,950 7,418 7,244 1,272 1,353 Latin America 1,504 1,740 1,757 1,740 1,273 1,303 7 102 Spain 1,552 1,516 1,552 1,516 1,354 1,358 200 171 Portugal 251 247 251 247 204 200 17 17 Iberia & Latin America 3,307 3,502 3,561 3,502 2,831 2,860 225 290 United States 1,525 1,625 1,565 1,625 1,394 1,532 (159) 140 USA8 1,525 1,625 1,565 1,625 1,394 1,532 (159) 140 ­­Allianz Global Corporate & Specialty 4,217 4,042 4,256 4,042 2,283 2,205 417 342 Reinsurance PC2 3,085 2,818 3,085 2,814 2,278 2,176 395 111 Australia 2,077 2,202 2,268 2,202 1,631 1,700 240 301 United Kingdom 2,021 1,713 1,926 1,713 1,787 1,573 145 151 Credit Insurance 1,672 1,609 1,648 1,596 1,110 1,072 307 285 Ireland 341 321 341 321 284 277 26 35 Global Insurance Lines & Anglo Markets9 13,413 12,706 13,524 12,688 9,372 9,003 1,534 1,219 Russia 494 621 570 621 433 443 (155) (7) Poland 316 322 315 322 262 257 13 9 Hungary 210 210 218 210 167 171 17 18 Slovakia 260 253 260 253 199 199 42 42 Czech Republic 219 210 234 210 181 171 31 36 Romania 147 136 148 136 114 112 6 4 Bulgaria 61 54 61 54 48 45 – 13 Croatia 72 76 72 76 57 58 6 10 Ukraine 12 13 16 13 6 5 – 1 Central and Eastern Europe10 1,790 1,892 1,895 1,892 1,466 1,460 (46) 120 Asia-Pacific 549 515 589 515 323 279 56 54 Middle East and North Africa 55 53 58 53 37 35 6 6 Growth Markets 2,394 2,461 2,541 2,461 1,825 1,774 15 180 ­Allianz Global Assistance 1,629 1,507 1,623 1,507 1,492 1,398 78 67 ­Allianz Worldwide Care 448 384 448 384 361 309 32 25 Allianz Worldwide Partners11 2,129 1,960 2,124 1,960 1,895 1,726 77 71 Consolidation and Other12,13 (3,486) (3,330) (3,492) (3,317) – – 86 2 Total 37,317 36,602 37,669 36,584 32,291 31,459 4,257 3,733 1 This reflects gross premiums written on an internal basis, adjusted for foreign currency translation and (de-)consolidation effects. 2 In 2013, the combined ratio at Germany and Reinsurance PC was impacted by a one-off effect related to the commutation of internal reinsurance resulting in a 1.2 percentage point improvement in the combined ratio for Germany and an increase of 3.0 percentage points in Reinsurance PC. This had no impact at Group level. 3 Starting from 2014 “Münchener und Magdeburger Agrarversicherung AG” is included in Germany with gross premiums written of € 32 mn, premiums earned (net) of € 16 mn and operating profit of € 9 mn. Prior period figures were not adjusted. Contribution to German Speaking Countries before consolidation in 2013 was gross written premiums of € 32 mn, premiums earned (net) of € 20 mn and operating profit of € 5 mn. 4 Effective 1 July 2014, the ­Allianz Group acquired specific distribution activities of the Property-Casualty insurance business of UnipolSai Assicurazioni S.p.A., Bologna (“Distribution Activities”). 5 Belgium and the Netherlands are presented as the combined region Benelux. All prior periods are presented accordingly. 6 On 12 July 2013, ­Allianz Group acquired Yapı Kredi Bank’s shareholding in the Turkish property-casualty insurance company Yapı Kredi Sigorta. 7 Contains € 6 mn and € 9 mn operating profit for 2014 and 2013, respectively, from a management holding located in Luxembourg.

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