content_image/7898.jpg
## Deconsolidations 2003 

The principal companies deconsolidated in the course of the year are presented in the following table: 

<img src='content_image/7898.jpg'>

1) Consolidated in the business segments 2) 

At the date of deconsolidation 

## New acquisitions 2002 

The following principal acquisitions were consolidated for the first time: 

The Slovak insurance company Slovenská poist’ovna a. s. (as of 2003: Allianz-Slovenská poist’ovna a.s.), Bratislava, operates in both the prop- erty/casualty and the life/health insurance business segments. On July 22, 2002, Allianz Group acquired 66.8 % of the shares of Sloven- ská poist’ovna for a purchase price of ¤ 66.3 mn. An additional 25.8 % of the shares were acquired on August 22, 2002, and a further 6.5 % on December 20, 2002. The total acquisition cost for our 99.1 % shareholding amounted to ¤ 216.2 mn. 

We also acquired the following additional ownership interests in al- ready consolidated subsidiaries: 

_ On January 15, 2002, we increased our interest in Allianz Lebensversicherungs-AG, Stuttgart, by 40.5 % to 91.0 % (acqui- sition cost for additional shares ¤ 2,586.6 mn). This transaction produced additional goodwill amounting to ¤ 633 mn. 

_ On June 28, 2002, we increased our interest in Frankfurter Ver- sicherungs-AG, Frankfurt/Main, by 50.0 % to 100.0 % (acquisi- tion cost for additional shares ¤ 929.5 mn). This transaction pro- duced additional goodwill amounting to ¤ 57 mn. 

_ On June 28, 2002, we increased our interest in Bayerische Ver- sicherungsbank AG, Munich, by 45.0 % to 90.0 % (acquisition cost for additional shares ¤ 857.9 mn). This transaction produced additional goodwill amounting to ¤ 94 mn. 

_ On January 15, 2002, June 28, 2002, July 2, 2002 and August 23, 2002, we successively increased our interest in Dresdner Bank AG, Frankfurt/Main, by a total of 21.5 % to 100.0 % (acquisition cost for 

additional shares ¤ 6,338.2 mn). This transaction produced addi- tional goodwill amounting to ¤ 2,002 mn. 

## Deconsolidations 2002 

In August 2002, Deutsche Hyp Deutsche Hypothekenbank AG was merged into Eurohypo AG, a company into which Commerzbank AG, Deutsche Bank AG and Dresdner Bank AG merged their mortgage lending subsidiaries. Proceeds from the sale of Deutsche Hyp Deutsche Hypothekenbank AG amounted ¤ 1,411 mn. 

## New acquisitions 2001 

The following principal acquisitions were consolidated for the first time: 

_ Dresdner Bank AG, Franfurt/Main and its subsidiaries. With its pur- chase of 56.7 % on July 23, 2001, the Allianz Group acquired a ma- jority stake at a price of ¤ 17,227 mn. A further 1.0 % of the stock was purchased in the period to December 31, 2001. Total acquisi- tion costs for the majority holding of 78.5 % amounted to ¤ 19,561 mn. The goodwill reported in connection with the first-time con- solidation of Dresdner Bank Group amounted to ¤ 3,977 mn. An additional ¤ 659 mn for the value of the brand name was recog- nized as intangible assets. 

_ the U.S. asset manager Nicholas Applegate, San Diego. The 100.0% holding was acquired on January 31, 2001 at a purchase price of ¤ 1,111 mn. The transaction also includes possible further per- formance-related purchase price payments. Further payments from the retention programs amounting to ¤ 31 mn were made up to this time; for the years 2004 and 2005, additional payments amounting to a total of USD 40 mn will become due. Incentive pro- grams potentially require payments amounting to USD 75 mn. 

