Allianz Se · XETR:ALV
Allianz — Investor Day (December 2024)
36 slides from Allianz's investor day presentation, Dec 10, 2024
Slide 1: The CEO view: Lifting ambitions
Allianz (i) The CEO view Lifting ambitions Oliver Bate CEO Allianz SE Allianz Capital Markets Day December 2024
Slide 2: Our next evolution — lifting ambitions
ALLIANZ CAPITAL MARKETS DAY 2024 Allianz ®@ Our next evolution — lifting ambitions 2021 2024 2018 Simplicity at scale LIFTING 2015 Simplicity wins Bringing us to “beat- AMBITIONS . . the-best” performance Renewal Agenda ; Simplifying all elements and scaling our Laying the foundation of our business
Slide 3: Further lifting ambitions
ALLIANZ CAPITAL MARKETS DAY 2024 Further lifting ambitions Allianz @) 2024 targets 2027 targets . . . 2 Financial Sll operating capital generation p.a. n/a indicators Return on equity! 13% plus g . Payout ratio® me ©) Wenn. | Health NPS* loyalty leader 50% plus g © 60% plus, new baseline indicators
Slide 4: Agenda
Agenda Allianz@) 1 Taking stock 2 Lifting ambitions 3 Outlook 2027 A04
Slide 5: Global permacrisis accelerates disruptions
ALLIANZ CAPITAL MARKETS DAY 2024 Allianz @) Global permacrisis accelerates disruptions Permacrisis elements Geopolitics Countries & societies polarizing, cold and hot wars resurfacing Climate change Accelerating human and economic losses — decarbonization pressure rising Demographic change Aging soc
Slide 6: Allianz value proposition more relevant than ever
ALLIANZ CAPITAL MARKETS DAY 2024 Allianz @ Allianz value proposition more relevant than ever We secure your future 5 Purpose a The trusted partner for protecting and Aspiration : growing your most valuable assets Promises (2) (~) (SB) Prato Strong resilience in Delivery of benchmark Careful balance
Slide 7: Brand strength and trust at all time high
ALLIANZ CAPITAL MARKETS DAY 2024 Allianz @ Brand strength and trust at all time high Brand value? USD bn 25 5 23.5 Interbrand #1 Insurance brand Yn globally, #29 across #29 i i no | - all industries #1 insurer od _ since 2019 BrandFinance = #1 Insurance & asset 15 4 management brand globally 104 8.
Slide 8: High customer satisfaction despite inflation challenges
ALLIANZ CAPITAL MARKETS DAY 2024 Allianz @ High customer satisfaction despite inflation challenges Net Promoter Score! 80 7 @ %ofsegments that outperform their respective market . 72 @ % of segments that are loyalty leader in their respective market 70 4 —e 60 4 e. e 57 50 4 5 —_—e o—_ o——.¢/ 40 J 7
Slide 9: Employee engagement at global benchmark level
ALLIANZ CAPITAL MARKETS DAY 2024 Allianz @) Employee engagement at global benchmark level Employee engagement! Inclusive Meritocracy Index & Work Well Index plus 90 5 Comprehensive upskilling initiatives +++ Best-in-Class IMIX 2024 >700k Learning hours in digital, data &Al in 2024 EUR >100mn investe
Slide 10: Market leading sustainability agenda
ALLIANZ CAPITAL MARKETS DAY 2024 Allianz @) Market leading sustainability agenda Transformation Significant change Allianz CO, emissions 2019 - 2023 CA -44y, Financed emissions in our proprietary investments* Emissions per employee in our operations 1) Traded equity and corporate bonds 2) Allianz Su
Slide 11: Resilient value creation with strong upside from scale
ALLIANZ CAPITAL MARKETS DAY 2024 Allianz ®@ Resilient value creation with strong upside from scale Progress since 2021 Health & Protection growth >70% operating profit growth, ~11% of Group Life capital intensity reduction >10% decrease for new business PIMCO in excellent shape EUR ~70bn net inflows
Slide 12: Most financial targets outperformed
ALLIANZ CAPITAL MARKETS DAY 2024 Most financial targets outperformed 2024 target? a we on equity Solvency II > 180% ratio ~ ° Financial Moopy’s strength r Aa2 ) 1) Aspresented on 2021 Capital Markets Day 2) Asof 3Q 2024 2024e ~16.5% 209% aD Operating profit 2024 target? Property- ~ os) so eo om S&P
Slide 13: Continued strong performance
ALLIANZ CAPITAL MARKETS DAY 2024 Allianz @) Continued strong performance Revenues EUR bn 2024 target CAGR 160+ €@ 1.9% 3.9% 5.6% oo —_ Earnings per share EUR 2024 target CAGR ~25 @ 6.1% 6.5% 6.0% oo -O- 2015 2018 2021 2024e 1) _ EPS baseline communicated at CMD 2021 ie, adjusted for extraordinary an
Slide 14: Total shareholder return not yet best-in-class
ALLIANZ CAPITAL MARKETS DAY 2024 Allianz ®@ Total shareholder return not yet best-in-class Total shareholder return Previous headwinds %, annualized equivalent, 1Q 2022 — 3Q 2024, select peer set Structured Alpha losses at AllianzGl 28 20 . . . *) , (2) Claims inflation spike with sane nego re essee
Slide 15: Agenda
Ag enda Allianz @ 1 Taking stock 2 Lifting ambitions 3 Outlook 2027 AIS
Slide 16: Lifting ambitions — further unlocking Allianz's potential
ALLIANZ CAPITAL MARKETS DAY 2024 Allianz @) Lifting ambitions — further unlocking Allianz’s potential ONE Value proposition 46 The trusted partner for protecting and growing your most valuable assets Even more relevant today A16
Slide 17: Global permacrisis drives "flight to trust"
ALLIANZ CAPITAL MARKETS DAY 2024 Allianz @) Global permacrisis drives “flight to trust” Permacrisis accelerating disruptions ... Geopolitics Countries & societies polarizing, cold and hot wars resurfacing Climate change Accelerating human and economic losses — decarbonization pressure rising Demogra
Slide 18: Lifting ambitions — further unlocking Allianz's potential
ALLIANZ CAPITAL MARKETS DAY 2024 Allianz @ Lifting ambitions — further unlocking Allianz’s potential ONE TWO Value proposition World-class businesses The trusted Balanced global partner for ponchise: ; H rotection an DEES ting and Retirement — growing your serving customer most valuable needs across
Slide 19: Allianz to strongly benefit from secular trends
ALLIANZ CAPITAL MARKETS DAY 2024 Allianz @ Allianz to strongly benefit from secular trends 1) Protection gap widening 2] Retirement opportunity growing Under-protected Accelerating generational properties & assets wealth transfers ©. % Multiplying new risks, e 215.5bn @ Compounding pressure e.g. Cyb
Slide 20: P/C retail as core engine of our business model
ALLIANZ CAPITAL MARKETS DAY 2024 Allianz @ @ P/C retail as core engine of our business model Leading franchise Technical excellence Accelerated operating profit growth P/C retail! revenues, EUR bn, 2023 Underlying loss ratio developmentin % EUR bn? 40 26 18 14 YTD rate change 7 on renewals Allianz@
Slide 21: Connected platforms underpinning growth
ALLIANZ CAPITAL MARKETS DAY 2024 Allianz @ @ Connected platforms underpinning growth Market leading platforms * B2B2C: #1 global services player Rene rani . Allianz @ DIR=CT * B2c: Leading EU direct insurer % solvd * B2B: #1 EU claims platform 4) #1 globally in travel insurance Operating profit of c
Slide 22: Commercial positioned for profitable growth
ALLIANZ CAPITAL MARKETS DAY 2024 Allianz @ @ Commercial positioned for profitable growth Commercial footprint? Ambition 2027 Positioned for resilience through the cycle Operating profit, EUR bn Optimize business mix based on RoE and market 3.9 outlook to enable agility in softening cycle 3.6 Clear f
Slide 23: Health & Protection with significant contribution
ALLIANZ CAPITAL MARKETS DAY 2024 @ Health & Protection with significant contribution Globally verticalized health platform One Data set ~~ | One Underwriting Tool One Pricing Tool Global data repository with enhanced data quality Proprietary pricing model leveraging global data Data driven underwrit
Slide 24: The retirement opportunity is massive
ALLIANZ CAPITAL MARKETS DAY 2024 Allianz ®@ © The retirement opportunity is massive Increase in insurance & pension assets of private households by 2030! [United states Europe Asi Pacific | tavze EUR +11tn EUR +6tn EUR +16tn {Allianz Life (#)_PIMCO_ Jt Allianz Cr) AllianzGl G) PIMCO Jf Allianz Asia
Slide 25: Allianz Capital Markets Day 2024
ALLIANZ CAPITAL MARKETS DAY 2024
Slide 26: New business capital-efficient & further optimized
ALLIANZ CAPITAL MARKETS DAY 2024 Allianz @ ® New business capital-efficient & further optimized Capital Intensity? US: Optimize capital 2 Europe consumption 2021: USD 35bn closed Germany block reinsurance Today: USD 10bn flow and in-force reinsurance Future: Further balance spread and fee income and
Slide 27: Services create strong customer pull effect
ALLIANZ CAPITAL MARKETS DAY 2024 Services create strong customer pull effect Strong foundations #1 insurance brand globally Best-in-class products & services Customers turning to trusted partners Protection Retirement Better Doc Doctor A risklab J Institutional Prevention | referral Asset allocation
Slide 28: Lifting ambitions — further unlocking Allianz's potential
ALLIANZ CAPITAL MARKETS DAY 2024 Allianz @) Lifting ambitions — further unlocking Allianz’s potential ONE TWO THREE Value proposition World-class businesses Value accelerators © e DRIVING The trusted Balanced global SMART GROWTH partner for franchise: . oRcING . Protection an REINFORCIN protecting a
Slide 29: Customer pull to drive volume uplift
ALLIANZ CAPITAL MARKETS DAY 2024 €} Customer pull to drive volume uplift Allianz @ Growth driver breakdown P/C retail example}, % O Price @ Volume Win new customers @) Increase cross-sell @) Reduce churn Pre inflation High inflation Ambition 2017-19 2021-24 2025-27 From managing Push distribution Se
Slide 30: Continuous delivery on our productivity ambition
ALLIANZ CAPITAL MARKETS DAY 2024 Allianz @) ® Continuous delivery on our productivity ambition Product harmonization # of harmonized P/C products?, cumulative Target-state: >500 products harmonized by 2027 >95% of GWP covered 2018 2021 2024 2027e IT decommissioning # of IT applications to be decommi
Slide 31: Continuous delivery on our productivity ambition
ALLIANZ CAPITAL MARKETS DAY 2024 Allianz @ ® Continuous delivery on our productivity ambition P/C expense ratio}, % 29.05 -30bps p.a. 28.5 4 -4% overall Decrease 28.0 5 predominantly in admin cost 275 4 27.0 + s @ (+) Further CR improvements Ambition 2027 30bps Improvement p.a. “2015 16 17 18 19 20
Slide 32: Strong resilience in a polarized world
ALLIANZ CAPITAL MARKETS DAY 2024 Allianz @ © Allianz value proposition more relevant than ever Strong resilience in (2) a polarized world Strong resilience in a polarized world
Slide 33: We must earn our customers' trust, every day!
ALLIANZ CAPITAL MARKETS DAY 2024 Allianz @ © We must earn our customers’ trust, every day! OPERATIONAL resilience in all our businesses ... ... supported by FINANCIAL resilience Superior NatCat & inflation Revised capital management framework to optimize ... P/C management, claims excellence, Econom
Slide 34: Agenda
Ag enda Allianz @ 1 Taking stock 2 Lifting ambitions 3 Outlook 2027 A33
Slide 35: Further lifting ambitions
ALLIANZ CAPITAL MARKETS DAY 2024 Further lifting ambitions Allianz @) 2024 targets 2027 targets SII operating capital generation p.a2 n/a Financial indicators Return on equity! 13% plus © Health NPS# loyalty leader 50% plus D) 60% pussontnate indicators 1) Core earnings per share / core return on eq
Slide 36: Disclaimer
DISCLAIMER Cautionary note regarding forward-looking statements This document includes forward-looking state- ments, 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 f