D _ Consolidated Financial Statements Business segment information – consolidated balance sheet € mn Property-Casualty Life/Health As of 31 December 2021 2020 2021 2020 ASSETS Cash and cash equivalents 4,806 4,961 12,427 10,907 Financial assets carried at fair value through income 930 754 18,279 20,320 Investments 114,223 109,040 528,211 526,165 Loans and advances to banks and customers 11,773 10,987 111,827 105,209 Financial assets for unit-linked contracts - - 158,346 137,307 Reinsurance assets 14,718 12,713 42,059 7,535 Deferred acquisition costs 5,099 4,876 18,657 16,953 Deferred tax assets 1,081 886 945 744 Other assets 29,913 29,670 21,330 21,282 Non-current assets and assets of disposal groups classified as held for sale 47 85 92 1,701 Intangible assets 6,232 5,531 4,735 2,599 Total assets 188,822 179,502 916,908 850,722 Property-Casualty Life/Health As of 31 December 2021 2020 2021 2020 LIABILITIES AND EQUITY Financial liabilities carried at fair value through income 331 140 20,485 23,858 Liabilities to banks and customers 1,225 1,252 5,235 5,209 Unearned premiums 21,163 19,681 6,356 5,679 Reserves for loss and loss adjustment expenses 73,425 68,171 13,571 12,763 Reserves for insurance and investment contracts 15,203 15,263 617,109 596,074 Financial liabilities for unit-linked contracts - - 158,346 137,307 Deferred tax liabilities 2,529 3,011 4,749 6,807 Other liabilities 24,898 23,562 47,121 17,797 Liabilities of disposal groups classified as held for sale - 10 - 1,125 Certificated liabilities - - - - Subordinated liabilities 47 12 65 68 Total liabilities 138,821 131,102 873,036 806,686 140 Annual Report 2021 − Allianz Group