C _ Group Management Report RECONCILIATIONS The analysis in the previous chapters is based on our Consolidated Composition of total revenue growth Financial Statements and should be read in conjunction with them. In addition to our figures stated in accordance with the International We believe that an understanding of our total revenue performance is Financial Reporting Standards (IFRS), the Allianz Group uses enhanced when the effects of foreign currency translation as well as operating profit and internal growth to enhance the understanding acquisitions, disposals, and transfers (or “changes in scope of of our results. These additional measures should be viewed as consolidation”) are analyzed separately. Accordingly, in addition to complementary to, rather than a substitute for, our figures determined presenting nominal total revenue growth, we also present internal according to IFRS. growth, which excludes these effects. For further information, please refer to note 4 to the Consolidated Financial Statements. Reconciliation of nominal total revenue growth to internal total revenue growth % Composition of total revenues Changes in Foreign Internal scope of currency Nominal growth consolidation translation growth Total revenues comprise gross premiums written, and fee and 2021 commission income in Property-Casualty; statutory premiums in Property-Casualty 4.1 1.5 (0.8) 4.8 Life/Health; operating revenues in Asset Management; and total Life/Health 6.8 0.1 (1.0) 5.8 revenues in Corporate and Other (Banking). Asset Management 15.9 1.5 (3.1) 14.3 Corporate and Other 18.0 - - 18.0 Composition of total revenues Allianz Group 6.1 0.7 (1.1) 5.7 € mn 2021 2020 2020 Property-Casualty (1.5) 3.7 (1.8) 0.4 PROPERTY-CASUALTY Life/Health (2.6) 0.2 (0.7) (3.1) Total revenues 62,272 59,412 Asset Management 3.6 0.6 (1.6) 2.6 consisting of: Corporate and Other 2.5 - - 2.5 Gross premiums written 60,273 57,772 Allianz Group (1.8) 1.6 (1.2) (1.3) Fee and commission income 1,998 1,640 LIFE/HEALTH Statutory premiums 78,348 74,044 ASSET MANAGEMENT Operating revenues 8,396 7,347 consisting of: Net fee and commission income 8,403 7,358 Net interest and similar income (12) (15) Income from financial assets and liabilities carried at fair value through income (net) 2 3 Other income 3 2 CORPORATE AND OTHER thereof: Total revenues (Banking) 289 245 consisting of: Interest and similar income 60 63 Income from financial assets and liabilities carried at fair 1 value through income (net) 2 2 Fee and commission income 666 561 Interest expenses, excluding interest expenses from external debt (23) (22) Fee and commission expenses (423) (359) Consolidation effects within Corporate and Other 6 - CONSOLIDATION (794) (593) Allianz Group total revenues 148,511 140,455 1_Includes trading income. Annual Report 2021 − Allianz Group 95