D _ Consolidated Financial Statements ultimate losses) in two time-related dimensions. One of these is the Group results. The run-off triangles are not prepared on a currency- calendar year, the other is the accident year (year of loss occurrence). adjusted basis. This means all figures are translated from the Run-off triangles – as the basis for measuring loss reserves – express respective local currency into the Allianz Group presentation currency how the loss reserves change over the course of time due to payments (euro), consistently using the exchange rates applicable at the made and new estimates of the expected ultimate loss at the respective reporting date. This ensures that the reserves reconcile with respective reporting date. reserves in the consolidated balance sheet. The data is only presented on a net basis, as this is considered to be more meaningful in order to represent the retained impact on Loss payments for the individual accident years (per calendar year, net) Loss payments for the individual accident years (per calendar year, net) € mn Accident year 2012 Calendar year and prior 2013 2014 2015 2016 2017 2018 2019 2020 2021 Total 2012 27,828 27,828 2013 13,530 15,449 28,979 2014 6,283 7,009 15,410 28,702 2015 4,326 1,850 7,564 16,291 30,031 2016 4,054 1,004 2,007 7,929 16,409 31,403 2017 2,273 710 1,022 2,261 7,842 16,669 30,778 2018 2,571 389 707 1,119 2,484 7,976 17,084 32,330 2019 1,447 314 490 788 1,044 2,753 8,524 18,105 33,465 2020 1,130 222 302 584 938 1,278 2,883 8,818 17,104 33,258 2021 1,008 175 232 379 639 770 1,329 3,054 7,552 18,587 33,726 Reserves for loss and loss adjustment expenses for the individual accident years at the respective reporting date (net) Reserves for loss and loss adjustment expenses for the individual accident years at the respective reporting date (net) € mn Accident year 2012 As of 31 December and prior 2013 2014 2015 2016 2017 2018 2019 2020 2021 Total 2012 55,807 55,807 2013 39,488 13,957 53,445 2014 33,303 7,101 15,215 55,619 2015 28,367 5,182 7,585 16,358 57,492 2016 23,400 3,894 5,262 7,991 16,708 57,254 2017 19,174 2,815 3,891 5,407 8,454 16,573 56,314 2018 16,107 2,352 2,954 4,114 5,424 8,327 17,081 56,358 2019 14,403 2,001 2,341 3,413 4,403 6,049 8,751 18,762 60,122 2020 12,969 1,725 1,956 2,642 3,466 4,387 5,873 9,646 19,294 61,958 2021 12,068 1,517 1,760 2,246 2,837 3,720 4,942 6,939 10,708 19,081 65,821 Annual Report 2021 − Allianz Group 153