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Interim Report Third Quarter 2014 - Notes to the Consolidated Income Statements

Interim Report Third Quarter and First Nine Months of 2014    Allianz Group 89 B Condensed Consolidated Interim Financial Statements 49 Consolidated Balance Sheets 50 Consolidated Income Statements 51 Consolidated Statements of Comprehensive Income 52 Consolidated Statements of Changes in Equity 53 Consolidated Statements of Cash Flows 55 Notes Notes to the Consolidated Income Statements 21 – Premiums earned (net) Premiums earned (net) € mn three months ended 30 September Property- Casualty Life/Health Consoli- dation Group 2014 Premiums written Direct 10,326 5,948 – 16,274 Assumed 928 208 (17) 1,119 Subtotal 11,254 6,156 (17) 17,393 Ceded (959) (175) 17 (1,118) Net 10,294 5,981 – 16,275 Change in unearned premiums Direct 1,087 (125) – 962 Assumed (126) (1) – (127) Subtotal 961 (126) – 835 Ceded (76) 1 – (75) Net 885 (125) – 760 Premiums earned Direct 11,413 5,824 – 17,236 Assumed 802 206 (17) 992 Subtotal 12,215 6,030 (17) 18,228 Ceded (1,035) (174) 17 (1,193) Net 11,180 5,856 – 17,035 2013 Premiums written Direct 9,829 5,793 – 15,622 Assumed 821 266 (16) 1,071 Subtotal 10,650 6,059 (16) 16,693 Ceded (859) (136) 16 (978) Net 9,792 5,923 – 15,715 Change in unearned premiums Direct 1,175 (54) – 1,121 Assumed (61) (1) (1) (63) Subtotal 1,114 (55) (1) 1,058 Ceded (137) 1 1 (136) Net 977 (54) – 922 Premiums earned Direct 11,004 5,739 – 16,743 Assumed 760 264 (17) 1,008 Subtotal 11,764 6,004 (17) 17,751 Ceded (996) (135) 17 (1,114) Net 10,768 5,869 – 16,637 Premiums earned (net) (Continued) € mn nine months ended 30 September Property- Casualty Life/Health Consoli- dation Group 2014 Premiums written Direct 34,882 18,455 – 53,337 Assumed 2,435 589 (61) 2,964 Subtotal 37,317 19,045 (61) 56,301 Ceded (3,122) (548) 61 (3,609) Net 34,195 18,497 – 52,691 Change in unearned premiums Direct (1,779) (352) – (2,131) Assumed (442) (21) 7 (456) Subtotal (2,221) (373) 7 (2,587) Ceded 317 8 (7) 317 Net (1,904) (366) – (2,270) Premiums earned Direct 33,103 18,103 – 51,205 Assumed 1,993 569 (54) 2,508 Subtotal 35,096 18,672 (54) 53,713 Ceded (2,806) (541) 54 (3,292) Net 32,291 18,131 – 50,421 2013 Premiums written Direct 34,394 18,215 – 52,608 Assumed 2,208 571 (42) 2,737 Subtotal 36,602 18,786 (42) 55,346 Ceded (3,290) (427) 42 (3,675) Net 33,312 18,359 – 51,671 Change in unearned premiums Direct (1,831) (219) – (2,051) Assumed (304) – (2) (307) Subtotal (2,136) (220) (2) (2,357) Ceded 283 1 2 286 Net (1,853) (218) – (2,071) Premiums earned Direct 32,562 17,996 – 50,558 Assumed 1,904 571 (44) 2,431 Subtotal 34,466 18,567 (44) 52,988 Ceded (3,007) (426) 44 (3,389) Net 31,459 18,141 – 49,600

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