Please activate JavaScript!
Please install Adobe Flash Player, click here for download

Interim Report Third Quarter 2014

A Interim Group Management Report 5 Executive Summary 12 Property-Casualty Insurance Operations 22 Life/Health Insurance Operations 28 Asset Management 32 Corporate and Other 35 Outlook 37 Balance Sheet Review 44 Reconciliations Interim Report Third Quarter and First Nine Months of 2014    Allianz Group 21 % Combined ratio Loss ratio Expense ratio nine months ended 30 September 2014 2013 2014 2013 2014 2013 Germany2,3 91.0 102.5 65.3 76.6 25.7 25.9 Switzerland 90.4 91.6 67.5 68.8 22.9 22.8 Austria 94.6 97.0 69.2 70.9 25.4 26.1 German Speaking Countries3 91.2 100.4 65.9 75.0 25.3 25.4 Italy4 81.7 77.7 55.2 53.7 26.4 24.0 France 94.3 97.5 66.2 68.9 28.0 28.5 Benelux5 98.1 97.4 67.8 68.0 30.3 29.4 Turkey6 97.7 92.7 74.9 68.5 22.8 24.1 Greece 84.1 80.7 49.3 47.9 34.8 32.8 Africa 93.5 98.0 54.2 56.7 39.2 41.3 Western & Southern Europe7 90.0 88.9 62.6 62.3 27.3 26.6 Latin America 106.4 98.1 74.8 65.7 31.6 32.3 Spain 89.3 91.5 68.5 70.6 20.8 20.9 Portugal 95.8 96.4 73.0 72.8 22.7 23.6 Iberia & Latin America 97.5 94.8 71.7 68.5 25.8 26.3 United States 123.4 101.9 89.1 68.5 34.3 33.4 USA8 123.4 101.9 89.1 68.5 34.3 33.4 ­­Allianz Global Corporate & Specialty 92.9 94.4 65.7 67.1 27.2 27.3 Reinsurance PC2 86.2 98.5 57.9 65.9 28.3 32.6 Australia 95.7 92.6 71.0 67.1 24.7 25.5 United Kingdom 96.8 95.7 65.2 64.6 31.6 31.1 Credit Insurance 77.7 81.4 48.2 52.6 29.5 28.8 Ireland 97.8 94.3 67.3 62.7 30.5 31.6 Global Insurance Lines & Anglo Markets9 90.9 93.8 62.6 64.6 28.3 29.3 Russia 141.8 107.6 96.5 66.9 45.3 40.7 Poland 99.4 101.2 65.0 66.7 34.4 34.5 Hungary 102.8 101.6 63.1 63.0 39.7 38.6 Slovakia 84.1 85.4 52.2 54.7 31.9 30.8 Czech Republic 85.4 81.2 58.2 53.9 27.2 27.2 Romania 100.8 103.0 70.8 73.2 29.9 29.8 Bulgaria 104.4 75.1 79.2 46.6 25.2 28.5 Croatia 96.8 90.7 58.4 53.1 38.4 37.6 Ukraine 109.8 111.0 59.1 55.3 50.7 55.8 Central and Eastern Europe10 108.9 98.0 72.1 62.5 36.7 35.4 Asia-Pacific 90.6 89.5 60.9 58.8 29.7 30.8 Middle East and North Africa 97.4 95.5 62.9 61.4 34.5 34.2 Growth Markets 105.4 96.6 69.9 61.9 35.5 34.7 ­Allianz Global Assistance 96.0 96.9 62.2 61.7 33.7 35.2 ­Allianz Worldwide Care 91.5 92.4 72.7 73.9 18.8 18.5 Allianz Worldwide Partners11 96.8 97.4 64.7 64.3 32.0 33.1 Consolidation and Other12,13 – – – – – – Total 93.6 95.0 65.6 66.8 28.0 28.2  8 The reserve strengthening for asbestos risks in 2014 at Fireman’s Fund Insurance company of € 79 mn had no impact on the financial results of the ­Allianz Group and Fireman’s Fund’s combined ratio under IFRS.  9 Contains € 4 mn operating profit and € 7 mn operating loss for 2014 and 2013, respectively, from AGF UK. 10 Contains income and expense items from a management holding and consolidations between countries in this region. 11 The reportable segment ­Allianz Worldwide Partners includes the business of ­Allianz Global Assistance and ­Allianz Worldwide Care as well as the reinsurance business of ­Allianz Global Automotive and income and expenses of a management holding. The set-up of this division will be further enhanced during 2014 with the reclassification of our International Health business in France from Life/Health to the Property-Casualty business segment retrospectively as of January 2014. The reinsurance business of ­Allianz Global Automotive contributed with gross premiums written of € 52 mn, premiums earned (net) of€ 42 mnandanoperatinglossof€ 11 mnfor2014andwithgrosspremiumswrittenof€ 70 mn,premiums earned (net) of € 19 mn and an operating loss of € 19 mn for 2013. 12 Represents elimination of transactions between ­Allianz Group companies in different geographic regions. 13 The 2014 analysis of the ­Allianz Group’s asbestos risks resulted in a reduction of reserves and a positive run-off result of € 86 mn reflected in the operating profit for 2014.

Pages Overview