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Interim Report Third Quarter 2014

Interim Report Third Quarter and First Nine Months of 2014    Allianz Group62 Business Segment Information – Total revenues and reconciliation of Operating profit (loss) to Net income (loss) Business Segment Information – Total revenues and reconciliation of Operating profit (loss) to Net income (loss) € mn Property-Casualty Life/Health three months ended 30 September 2014 2013 2014 2013 Total revenues1 11,254 10,650 15,853 12,698 Premiums earned (net) 11,180 10,768 5,856 5,869 Operating investment result Interest and similar income 897 885 4,260 4,127 Operating income from financial assets and liabilities carried at fair value through income (net) 4 (35) (207) (537) Operating realized gains/losses (net) 74 14 746 541 Interest expenses, excluding interest expenses from external debt (20) (9) (27) (16) Operating impairments of investments (net) (4) (2) (102) (25) Investment expenses (88) (88) (219) (198) Subtotal 864 767 4,451 3,892 Fee and commission income 347 317 263 166 Other income 7 11 32 31 Claims and insurance benefits incurred (net) (7,366) (7,234) (5,004) (4,642) Change in reserves for insurance and investment contracts (net)2 (168) (107) (3,175) (3,138) Loan loss provisions – – – – Acquisition and administrative expenses (net) (3,089) (2,976) (1,488) (1,322) Fee and commission expenses (323) (295) (110) (61) Operating amortization of intangible assets – – (5) – Restructuring charges (5) (11) (1) (1) Other expenses (24) (6) (30) (26) Reclassification of tax benefits – – – – Operating profit (loss) 1,422 1,235 790 769 Non-operating investment result Non-operating income from financial assets and liabilities carried at fair value through income (net) (15) (6) (17) 6 Non-operating realized gains/losses (net) 158 78 19 29 Non-operating impairments of investments (net) (42) (129) (7) (3) Subtotal 101 (58) (5) 32 Income from fully consolidated private equity investments (net) – – – – Interest expenses from external debt – – – – Non-operating amortization of intangible assets (15) (16) (10) (5) Reclassification of tax benefits – – – – Non-operating items 86 (74) (15) 27 Income (loss) before income taxes 1,509 1,161 776 795 Income taxes (426) (365) (245) (233) Net income (loss) 1,083 796 530 562 Net income (loss) attributable to: Non-controlling interests 31 36 24 23 Shareholders 1,051 761 507 539 1 Total 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). 2 For the three months ended 30 September 2014, includes expenses for premium refunds (net) in Property-­ Casualty of € (93) mn (2013: € (48) mn).

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