understanding risk · allianz reinsurance –company presentation 22 allianz reinsurance our market...

© Copyright Allianz

UNDERSTANDING RISK

CREATING VALUE

ALLIANZ REINSURANCEFACTS & FIGURES

August 2020


ALLIANZ GROUP

© Copyright Allianz 26-Aug-20

Allianz Reinsurance – company presentation

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At a glance

Allianz Group

The Allianz Group is one of the world’s leading insurers and asset

managers with more than 100 million retail and corporate customers.

In 2019, over 147,000 employees in more than 70 countries achieved total revenues of 142.4 billion euros and an operating profit of

11.9 billion euros.

Allianz is one of the world’s largest managers, with third-party assets of

1,686 billion euros under management at year end 2019.


Since 1890, all around the globe, we at Allianz have been working hard to secure people’s lives and to give courage to our customers for what’s ahead.

We are actuaries, advisors and service agents; engineers, lawyers and technology experts; we are daughters and sons, mothers and fathers, accountants, investors

and entrepreneurs – and together we are shaping our industry.

Because we know how important it is to have a fair partner at your side who provides solid and sustainable solutions, we strive to do it right – with passion,

every day.

WE SECURE YOUR FUTURE

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ALLIANZ PURPOSE

Allianz Group

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2.0

RENEWAL AGENDA to be continued and accelerated

Allianz Group

Leveraging of Artificial Intelligence (AI) especially in retail, SME and Allianz Investment Management (AIM)

TrueCustomerCentricity

Customer

Meritocracy

New incentives and skills

• Aspiration to become best practice• Inclusive leadership / mobilization

Loyalty leadership

• Simple and intuitive products• Empathic service and frontline

empowerment

Focus on profitable growth and new platforms

European direct platforms (EDP) and digital ventures and partnerships (Allianz X)

Allianz Customer Model (ACM)

Continuous productivity gains through simplification, harmonization and legacy reduction

Superior data analytics

Digital

ExcellenceGrowth


ALLIANZ REINSURANCE



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PART OF A STRONG FINANCIAL COMMUNITY

Allianz Reinsurance

• As a leading Allianz brand, Allianz Re is part of one of the world's strongest financial community. Headquartered in Munich, Allianz Re has offices strategically located close to key markets in Austria, Ireland, Singapore, Switzerland and the United States.

• With that, we bring together a team of international experts in both the underwriting and risk management fields, combining global and local market expertise and multi-segment know-how.

• Allianz Re offers secure capacity and world-class technical capabilities. Our capacity and knowledge protect our clients against financial losses, help them meet regulatory requirements and contribute to keeping them competitive.

Climate Solutions Nat CAT

Agriculture Resolution Management



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Allianz Reinsurance

Allianz Re belongs to a strong financial community, the Allianz Group. We share this strength with our clients by

• Global reach with local teams and language capabilities

• Tailored solutions with substantial capacity

• Extensive technical capabilities and analytics

• Access to other Allianz Group capabilities and entities

• Sharing knowledge & expertise

• Allianz SE’s First Class Security (AA rating from S&P), Allianz Re Dublin dac and Allianz Reinsurance America, Inc (AA- rating from S&P)

OUR VALUE PROPOSITION

We organize ourselves based on the needs of our customers

Reinsurance MidCorpAdvisory &

ServicesResolution

Management



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Allianz Reinsurance

UNDERSTANDING RISK – CREATING VALUE

We support our clients’ business strategy by understanding their risk profiles and needs, and by providing individual reinsurance solutions.

We understand risk

We have underwriting, actuarial and risk management professionals assessing the risk characteristics of our portfolio. Based on in-depth research of selected risk scenarios our Underwriting Expert Services team develops suitable products, as recently for environmental liability and bio-energy.

We create value

We manage the Allianz Group’s risk landscape through the use of reinsurance and capital market instruments. For our clients we offer our financial engineering and transaction capabilities to structure and execute services and solutions tailored to their specific needs.


ALLIANZ REINSURANCE functional board of management

Allianz Reinsurance


26-Aug-20

Amer Ahmed

Chief Executive Officer

Jan Stoermann

Chief Underwriting Officer

Dr Thorsten Dietz

Chief Operating Officer

Dr Olaf Novak

Managing Director

Reinsurance

Floris Wijchman

Managing Director – Mid Corp

Head of Location - Allianz SE

Reinsurance Branch Switzerland

Dr Holger Tewes Kampelmann

Chief Financial Officer

Managing Director, Resolution

Management

Dr Sybille Steimen

Managing Director

Advisory & Services


KEY FIGURES



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Allianz Reinsurance

FACTS & FIGURES

[EUR mn] 2015 2016 2017 2018 2019

Gross Written Premium 5,442 6,404 6,284 6,651 6,881

Operating Profit 662 635 327 508 461

Combined Ratio(P&C business only)

89.2% 89.4% 95.3% 92.0% 94.5%

1 Financial year basis includes internal and external business2 OP including AZRA3 Combined Ratio (reflecting underwriting result) only for AZRE PC (excluding ARM US)



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Allianz Reinsurance

DIVERSIFICATIONFinancial security through risk spread

GWP 2019 BY REGIONS ¹

Western Europe 83%Asia Pacific 12%CEEMA 4%USA & Canada 1%Latin America 1%

¹ Only P&C Financial figures including Allianz Reinsurance PC, Allianz Re America, Allianz Climate Solutions and excluding (light) virtual entities



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Allianz Reinsurance

DIVERSIFICATIONensures sustainability and stability for our clients

GWP 2019 BY LINES OF BUSINESS

* Life & Health include Allianz Global Life & Health VA business.

Property 34%Motor 32%Life & Health² 7%Liability 11%Credit Risks 7%Agriculture 3%Engineering 3%Aviation, Marine & Space 2%Personal Accident 2%


ALLIANZ REINSURANCERatings

Allianz Reinsurance

Standard & Poor’s

Allianz SEAA

(August 2019)

Allianz Reinsurance America, Inc.AA-

(December 2019)

Allianz Re Dublin dacAA-

(December 2019)

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OUR PEOPLE



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Allianz Reinsurance

HIGHLY EXPERIENCED AND DIVERSE STAFF

Germany

North America

Europe (w/o Germany)

Asia Pacific

BY REGION

EMPLOYEES IN NUMBERS*Employees worldwide by year (headcount)

Status: as of 07/2019

Status: as of 07/2019

56%28%

10%6%

2016 2017 2018 2019

513547 546 524

*decline from 2017 to 2018 due to shift of Az Re Audit and Financial Reporting to Allianz SE and fluctuation in the Zurich Agri team, AZRA, ACS.

We are a highly experienced and diverse

community representing 37 countries. 51%of all our employees are female and 36% of

our executive positions are held by women.

On average our employees have a tenure of

12 years with Allianz.


SOLUTIONS & SERVICES



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Allianz Reinsurance

WHY ALLIANZ RE?Our company strategy builds on four strategic priorities

GroupPortfolioManager

Portfoliooptimization

ProfitablegrowthOperational

excellence

People & Culture

PEOPLE &

CULTURE

PORTFOLIO OPTIMIZATON

PROFITABLE

GROWTH

OPERATIONAL EXCELLENCE

INSPIRE: We want our people to grow and shape the future

STRENGTHEN: We bundle risks and tailor financial solutions to make our partners more resilient

BROADEN: We create solutions, tools and services together with and for our partners to enable growth

DATAFY: We seek access to risk data which we transform into insights for our partners and us.

SIMPLIFY: We strive for simple solutions and processes



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Allianz Reinsurance

OUR BUSINESSWe organize ourselves based on the needs of our customers

AZ Re location

JV with AZ minority

COO

CUO

CFO

CEO

RI CARRIERS

• AZ SE Re Munich

• AZ Re America

• AZ Re Dublin

+ JV Enhanzed Re (25%)

REGIONAL HUBS

1. CEE (Vienna)

2. IberoLatam (Madrid)

3. Africa (virtual)

4. MENA (virtual)

5. Asia (Kuala Lumpur, Malaysia)

6. Western Europe (Munich)

+ Global Lines (Munich/Zurich)

AZ SE RE BRANCHES

• Singapore

• Zurich

• Vienna

Business Units

Enabling Functions

Reinsurance MidCorp Advisory &Services

ResolutionManagement



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Allianz Reinsurance

OUR CAPABILITIESAn established niche player for selected business lines and geographical markets

Client Focus Global Product Offer

OUR

CAPABILITIESStability and Consistency

World-class Technical

capabilities

• Core clients and products

• Strengthened client management teams

• Focus on understanding clients’ needs

• P&C solutions customized to clients’ needs

• Globally operating specialty lines (Agri)

• Striving for long-term client relationships

• Providing meaningful capacity over the cycle, backed by strong Allianz SE rating (S+P AA)

• Top experts in Cat and pricing

• Underwriting expertise across business lines and specialty lines



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Allianz Reinsurance

OUR MARKET LEADING EXPERTISEKnowing, understanding and managing risk

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Team developed since 2000

Meteorologists, hydrologists, seismologists, and mathematicians who work on

• knowing risks in insurance portfolios

• understanding risks via appropriate hazard analysis• managing risks by means of risk pooling, traditional retrocession, or

capital market solutions.

Cat Risk Management



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Allianz Reinsurance

OUR MARKET LEADING EXPERTISEDevelop innovative solutions for evolving risk scenarios

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Team created in 2009

Center of Competence for Agriculture in Allianz

Assist in analysis of existing portfolio within Group and support product development

Underwrite and grow existing portfolio of Third Party business

Agriculture



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Allianz Reinsurance

OUR MARKET LEADING EXPERTISEFostering renewable energy and addressing climate-related risks

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Established over 10 years

Support renewable energy industry with insurance and risk management solutions

Collaborate with both private and public sector partners towards improving societal resilience to climate change through dedicated insurance approaches

Over 450 utility scale projects insured and 1000 projects in 22 countries evaluated

Allianz Climate Solutions



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Allianz Reinsurance

OUR MARKET LEADING EXPERTISEManaging legacy liabilities and enabling effecting capital management via reinsurance

Established in 2015

Resolution Management is Allianz Center of Excellence that actively manages legacy liabilities and capital by providing customized reinsurance solutions for both internal and external clients

Managing third-party claims administration (TPA) services to companies that need expert claims management for complex claims and long tail risks.

Resolution Management


OUR GLOBAL NETWORK

Find out more about us at www.allianzre.com

© Copyright Allianz 27

Allianz Reinsurance

REINSURANCE - A GLOBAL BUSINESS

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3 IrelandAllianz RE Dublin dacAllianz HouseElmpark, Merrion RoadDublin 4 , Irelandp: +35 31 512 5400

1 USAAllianz Reinsurance America, Inc1465 North McDowell Blvd Ste 100Petaluma, CA 94954California, USA

4 SwitzerlandAllianz RE ReinsuranceBranch SwitzerlandRichtiplatz 18304 WallisellenSwitzerlandp: +41 44 285 9595

5 SingaporeAllianz RE ReinsuranceBranch Asia Pacific12 Marina View#14-01 Asia Square Tower 2Singapore 018961p: +65 6297 8801

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2 GermanyAllianz SE ReinsuranceKoeniginstrasse 2880802 MunichGermanyp: +49 89 3800 0

Allianz Climate SolutionsKoeniginstrasse 2880802 MunichGermanyp: +49 89 3800 12884

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DISCLAIMER

These assessments are, as always, subject to the disclaimer provided below

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Forward-looking Statements

The statements contained herein may include prospects, statements of future

expectations and other forward-looking statements that are based on

management's current views and assumptions and involve known and

unknown risks and uncertainties. Actual results, performance or events may

differ materially from those expressed or implied in such forward-looking

statements.

Such deviations may arise due to, without limitation, (i) changes of the general

economic conditions and competitive situation, particularly in the Allianz

Group's core business and core markets, (ii) performance of financial markets

(particularly market volatility, liquidity and credit events) (iii) frequency and

severity of insured loss events, including from natural catastrophes, and the

development of loss expenses, (iv) mortality and morbidity levels and trends,

(v) persistency levels, (vi) particularly in the banking business, the extent of

credit defaults, (vii) interest rate levels, (viii) currency exchange rates including

the Euro/U.S. Dollar exchange rate, (ix) changes in laws and regulations,

including tax regulations, (x) the impact of acquisitions, including related

integration issues, and reorganization measures, and (xi) general

competitive factors, in each case on a local, regional, national and/or

global basis. Many of these factors may be more likely to occur, or more

pronounced, as a result of terrorist activities and their consequences.

No duty to update

The company assumes no obligation to update any information or forward-

looking statement contained herein, save for any information required to be

disclosed by law.

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