1. Allianz Benelux Building the world’s strongest financial community

2. 2 Agenda 1 Allianz : a solid and reliable partner 2 Allianz in Belgium : profitable growth © Copyright Allianz 02/07/2016

3. 3 Allianz Group : a solid and reliable partner It is important for our customers to have a solid and financially strong partner Given these strong financials customers can rely on our ability to fulfill our commitments from insurance contracts Allianz Group Market cap on 31/12/2015 € 75 bn Solvency II ratio on 31/12/2015 200% Conservative asset allocation ( 31/12/2015) Debt instruments89% Equities7% Real estate2% Cash & others2% Standard & Poor’s rating since 2007 AA © Copyright Allianz 02/07/2016

4. 4 Allianz group : a solid and reliable partner Strong equity and best rating in the market (1)In € billions per 24/05/2016 – source : Bloomberg (2)AXA Group – Rating AXA sa : A- (3)No more S&P rating since Febrary 2015 – Fitch rating A- (4)KBC Assurances sa – Rating KBC Groupe sa : BBB+ (5)AG Insurance sa – Rating Ageas sa : BBB (6)Basler Versicherung Ltd (7)Delta Lloyd Group – Rating Delta Lloyd sa : BBB Allianz Group Market Cap 1 S&P Rating Allianz se 63,99AA Axa sa 52,68 A+ (2) Generali s.p.a. 19,56 NR (3) KBC Groupe sa 21,77A- (4) NN Group sa 9,96A- Ageas sa 7,64A (5) Bâloise Holding ag 5,46A (6) Delta Lloyd sa 2,03A- (7) © Copyright Allianz 02/07/2016

5. 5 The Allianz Group: much more than just an insurer As Allianz, we are …But did you know that … Sources: Allianz Group report 2011 and Fortune Global 500 report of July 2011  servicing over 85 million customers in 70 countries  among the top 30 of the world’s largest corporations based on revenues  insuring the majority of the Global Fortune 500 companies  the world’s largest P&C insurer based on revenues  one of the world’s largest life/health insurers  the largest global assistance provider (Allianz Global Assistance)  the worldwide leader in credit insurance (Euler Hermes)  one of the world’s four largest active asset managers (Allianz Global Investors and Pimco) … the Allianz Center for Technology conducts a crash test every week to improve road safety globally … Allianz offers more than 150 “green” products and services … Allianz provides a safety net to 24 million people in Asia, Africa and South America through its microinsurance offer … Allianz insures major Hollywood and Bollywood movie productions … Allianz has been an International Partner of the Paralympic Movement since 2006 and will support the 2016 Paralympic Games … Allianz is the leading specialist in space insurance Allianz Group © Copyright Allianz 02/07/2016

6. 6 Allianz Group: strong names for a large offer of services Allianz Group : more than 250 companies worldwide – offering financial solutions from A-Z Allianz Group © Copyright Allianz 02/07/2016

7. 7 Allianz Group Brokers are a key growth driver for Allianz © Copyright Allianz 02/07/2016

8. 8 The Allianz group Allianz Group Total revenues 1 (in € bn) In € bn2013201420152015 Q12016 Q1Evolution Operating profit 10,110,410,72,92,8-3,5% Net income 6,36,67,01,82,2+20,4% P&C Combined ratio 94,3% 94,6% 93,3%-1,3%p Results 1 Incl. revenue Corporate & others 1,6 37,8 1,4 -6,4% 2016 Q1 35,4 2015 Q1 Life&Health P & C Asset Management 66,9 67,3 48,3 51,6 © Copyright Allianz 02/07/2016

9. 9 Agenda 1 Allianz : a solid and reliable partner 2 Allianz in Belgium : profitable growth

10. 10 Allianz in Belgium : a long history 1821 Foundation of De Schelde/L’Escaut In Antwerp 1800 101112 1900 101112 2000 1913 Creation in Brussels of a subsidiary of AGP (the future AGF) 2007 Allianz buys 100% of AGF AGF Belgium Becomes Allianz 1889 Foundation of Allianz in Berlin 1904 Creation of Assubel in Brussels AGF buys De Schelde/L’Escaut 1993 Union & Fénix 1994 Assubel 1997 Allianz takes a majority share in the AGF group 1999 Takeover of Royal Life Allianz Benelux 1990 01/08/2012 Acquisition of Mensura’s insurance activities 25/11/2013 Allianz Belgium becomes Allianz Benelux © Copyright Allianz 02/07/2016

11. 11 Allianz in Belgium: Board of Management Eric Schneijdenberg COO Wilfried Neven Chairman of the Board of Management (BE) CEO Belgium Sales & Distribution Belgium Technical P&C Kathleen Van den Eynde CIO Technical Life & Health Claire-Marie Coste-Lepoutre CFO Allianz Benelux Sjoerd Laarberg Chairman of the Board of Management (NL) CEO Netherlands Sales & Distribution Netherlands Joerg Weber Digital & Market Management Jean-Pascal Vialaron Risk Management

12. 12 Allianz in Belgium : A solid, stable and profitable company  Multiline company: -Profitable growth in P&C -Performing Life and Pension products  Three main segments of customers: -Large Risks -SME and Self-employed -Retail clients  Focus on the broker distribution channel (3rd broker company)  More than 900.000 clients  Marketshare in 2014 (real figures) -Life: 6,2% -Non-Life: 4,5% Allianz Benelux © Copyright Allianz 02/07/2016

13. 13 Allianz Benelux: key figures Q1 2016 In € mn 2013201420152015 Q12016 Q1Evolution Total GWP 3.4913.6543.4031.192880-26,1% Operational result 171231 5545-19,1% Net income 1341841884951+3,9% P&C Combined Ratio 97,6% 96,2%97,3%99,7%+2,3% Allianz Benelux © Copyright Allianz 02/07/2016

14. 14 Allianz in Belgium: key figures Q1 2016 In € mn 2013201420152015 Q12016 Q1Evolution Total GWP 1.4271.5281.406506327-35,3% Operational result 1 10412314329 -1,5% Net income 2 74981222740+47,9% P&C Combined Ratio 3 94,0%94,3%90,7%93,5%91,4%-2,1% Allianz Benelux 1 – IFRS Norms 2 – IFRS Norms 3 – IFRS Norms, incl. workers accident © Copyright Allianz 02/07/2016

15. 15 Allianz in Belgium: detail gross written premium Q1 2016 In € mn 201320142015 2015 Q1 2016 Q1 Evolution Life – Retail & SME667,1772,3 646,5 278,3101,2-63,6% Life - Group219,9224,1 226,4 56,358,0+3,0% Health74,674,9 68,1 21,619,7-8,8% P&C – Retail & SME448,8443,3 449 141,4139,5-1,3% P&C – Large Risks16,613,3 15,6 8,28,6+4,9% Total GWP1.427,01.527,9 1.405,6 505,8327,0-35,3% Allianz Benelux © Copyright Allianz 02/07/2016

16. Our goal : to give you the best of Allianz

17. 17 Disclaimer These assessments are, as always, subject to the disclaimer provided below. Cautionary Note Regarding Forward-Looking Statements The statements contained herein may include 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 that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward- looking by reason of context, the words “may”, “will”, “should”, “expects”, “plans”, “intends”, “anticipates”, “believes”, “estimates”, “predicts”, “potential”, or “continue” and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) general economic conditions, including in particular economic conditions in the Allianz Group’s core business and core markets, (ii) performance of financial markets, including emerging markets, and including market volatility, liquidity and credit events (iii) the frequency and severity of insured loss events, including from natural catastrophes and including the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates including the Euro/U.S. Dollar exchange rate, (ix) changing levels of competition, (x) changes in laws and regulations, including monetary convergence and the European Monetary Union, (xi) changes in the policies of central banks and/or foreign governments, (xii) the impact of acquisitions, including related integration issues, (xiii) reorganization measures, and (xiv) 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 contained herein. © Copyright Allianz 02/07/2016