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PRESS RELEASE: Allianz SE: Allianz starts 2021 -2-

05/12/2021 | 01:01am
- Life/Health                         New business margin        %       2.9%       2.7%   0.1% -p 
- Life/Health                         Value of new business EUR mn        558        494  13.0% 
- Asset Management                    Cost-income ratio          %      59.3%      61.7%  -2.4% -p 
                                                                   03/31/2021 12/31/2020  Delta 
Shareholders' equity^3                                      EUR bn       78.3       80.8  -3.1% 
Solvency II capitalization ratio^4                               %       210%       207%     3% -p 
Third-party assets under management                         EUR bn      1,775      1,712   3.7% 
              Please note: The figures are presented in millions of Euros, unless otherwise stated. Due to rounding, 
              numbers presented may not add up precisely to the totals provided and percentages may not precisely 
              reflect the absolute figures. 
^1            Total revenues comprise gross premiums written and fee and commission income. 
^2            Represents the annualized ratio of net income attributable to shareholders to the average shareholders' 
              equity at the beginning of the period and at the end of the period. The net income attributable to 
              shareholders is adjusted for net financial charges related to undated subordinated bonds classified as 
              shareholders' equity. From the average shareholders' equity undated subordinated bonds classified as 
              shareholders' equity and unrealized gains/losses on bonds net of shadow accounting are excluded. 
              Annualized figures are not a forecast for full year numbers. For 1Q 2020, the return on equity for the 
              respective full year is shown. 
^3            Excluding non-controlling interests. 
^4            Risk capital figures are group diversified at 99.5% confidence level. Including the application of 
              transitional measures for technical provisions, the Solvency II capitalization ratio is 241% as of 31 
              March 2021. 

Munich, May 12, 2021

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

Cautionary note regarding forward-looking statements This document includes forward-looking statements, such as prospects or expectations, that are based on management's current views and assumptions and subject to known and unknown risks and uncertainties. Actual results, performance figures, or events may differ significantly from those expressed or implied in such forward-looking statements. Deviations may arise due to changes in factors including, but not limited to, the following: (i) the general economic and competitive situation in the Allianz Group's core business and core markets, (ii) the performance of financial markets (in particular market volatility, liquidity, and credit events), (iii) the frequency and severity of insured loss events, including those resulting 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, most notably the EUR/USD exchange rate, (ix) changes in laws and regulations, including tax regulations, (x) the impact of acquisitions including and related integration issues and reorganization measures, and (xi) the general competitive conditions that, in each individual case, apply at a local, regional, national, and/or global level. Many of these changes can be exacerbated by terrorist activities.

No duty to update The Allianz Group assumes no obligation to update any information or forward-looking statement contained herein, save for any information we are required to disclose by law.

Other The figures regarding the net assets, financial position and results of operations have been prepared in conformity with International Financial Reporting Standards. This Quarterly Earnings Release is not an Interim Financial Report within the meaning of International Accounting Standard (IAS) 34.

This is a translation of the German Quarterly Earnings Release of the Allianz Group. In case of any divergences, the German original is binding.

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2021-05-12 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at -----------------------------------------------------------------------------------------------------------------------

Language:     English 
Company:      Allianz SE 
              Königinstr. 28 
              80802 München 
Phone:        +49 (0)89 38 00 - 7555 
ISIN:         DE0008404005 
WKN:          840400 
Indices:      DAX-30, EURO STOXX 50 
Listed:       Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; 
              Regulated Unofficial Market in Tradegate Exchange 
EQS News ID:  1195380 
End of News   DGAP News Service 

1195380 2021-05-12

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May 12, 2021 01:00 ET (05:00 GMT)

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