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Interim Report Third Quarter 2012

In t e r i m R e p o r t t h i r d Q u a r t e r a n d F i r s t n i n e m o n t h s o f 2 0 1 2 | A l l i a n z g r o u p C o n d e n s e d C o n s o l i d a t e d In t e r i m F i n a n c i a l S t a t e m e n t s7 2 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 | During the nine months ended 30 September 2012, includes expenses for premium refunds (net) in Property-Casualty of € (103) mn (2011: € (58) mn). Business Segment Information – Total Revenues and Reconciliation of Operating Profit (Loss) to Net Income (Loss) (continued) Property-Casualty Life/Health Nine months ended 30 September | in € mn 2012 2011 2012 2011 Total revenues 1 36,915 35,277 38,472 39,054 Premiums earned (net) 31,151 29,843 17,538 17,063 Operating investment result Interest and similar income 2,837 2,852 12,651 12,083 Operating income from financial assets and liabilities carried at fair value through income (net) (25) 40 (487) (597) Operating realized gains/losses (net) 46 14 2,396 1,643 Interest expenses, excluding interest expenses from external debt (33) (46) (62) (75) Operating impairments of investments (net) (15) (44) (334) (1,425) Investment expenses (212) (181) (542) (571) Subtotal 2,598 2,635 13,622 11,058 Fee and commission income 858 840 393 407 Other income 27 23 110 67 Claims and insurance benefits incurred (net) (21,484) (20,960) (14,229) (14,174) Change in reserves for insurance and investment contracts (net) 2 (264) (219) (10,653) (8,882) Loan loss provisions – – – – Acquisition and administrative expenses (net), excluding acquisition-related expenses (8,611) (8,262) (4,075) (3,440) Fee and commission expenses (799) (788) (175) (153) Operating restructuring charges – – 1 (1) Other expenses (16) (9) (63) (44) Reclassification of tax benefits – – – – Operating profit (loss) 3,460 3,103 2,469 1,901 Non-operating investment result Non-operating income from financial assets and liabilities carried at fair value through income (net) (55) (54) 19 (36) Non-operating realized gains/losses (net) 411 346 (13) (93) Non-operating impairments of investments (net) (180) (373) (31) (286) Subtotal 176 (81) (25) (415) Income from fully consolidated private equity investments (net) – – – – Interest expenses from external debt – – – – Acquisition-related expenses – – – – Amortization of intangible assets (23) (7) (2) (5) Non-operating restructuring charges (88) (48) (11) (1) Reclassification of tax benefits – – – – Non-operating items 65 (136) (38) (421) Income (loss) before income taxes 3,525 2,967 2,431 1,480 Income taxes (1,068) (945) (759) (549) Net income (loss) 2,457 2,022 1,672 931 Net income (loss) attributable to: Non-controlling interests 137 136 69 53 Shareholders 2,320 1,886 1,603 878

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