NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 115 Deconsolidations 2003 The principal companies deconsolidated in the course of the year are presented in the following table: New acquisitions 2002 Deconsolidations 2002 New acquisitions 2001 The following principal acquisitions were consolidated for the first time: The Slovak insurance company Slovenská poist’ovna a. s. (as of 2003: Allianz-Slovenská poist’ovna a.s.), Bratislava, operates in both the prop- erty/casualty and the life/health insurance business segments. On July 22, 2002, Allianz Group acquired 66.8 % of the shares of Sloven- ská poist’ovna for a purchase price of  ¤ 66.3 mn. An additional 25.8 % of the shares were acquired on August 22, 2002, and a further 6.5 % on December 20, 2002. The total acquisition cost for our 99.1 % shareholding amounted to  ¤ 216.2 mn. We also acquired the following additional ownership interests in al- ready consolidated subsidiaries: The following principal acquisitions were consolidated for the first time: _  On January 15, 2002, we increased our interest in Allianz Lebensversicherungs-AG, Stuttgart, by 40.5 % to 91.0 % (acqui- sition cost for additional shares  ¤ 2,586.6 mn). This transaction produced additional goodwill amounting to  ¤ 633 mn. _  On June 28, 2002, we increased our interest in Frankfurter Ver- sicherungs-AG, Frankfurt/Main, by 50.0 % to 100.0 % (acquisi- tion cost for additional shares  ¤ 929.5 mn). This transaction pro- duced additional goodwill amounting to  ¤ 57 mn. _  On June 28, 2002, we increased our interest in Bayerische Ver- sicherungsbank AG, Munich, by 45.0 % to 90.0 % (acquisition cost for additional shares  ¤ 857.9 mn). This transaction produced additional goodwill amounting to  ¤ 94 mn. _  On January 15, 2002, June 28, 2002, July 2, 2002 and August 23, 2002, we successively increased our interest in Dresdner Bank AG, Frankfurt/Main, by a total of 21.5 % to 100.0 % (acquisition cost for _  the U.S. asset manager Nicholas Applegate, San Diego. The 100.0% holding was acquired on January 31, 2001 at a purchase price of ¤ 1,111 mn. The transaction also includes possible further per- formance-related purchase price payments. Further payments from the retention programs amounting to  ¤ 31 mn were made up to this time; for the years 2004 and 2005, additional payments amounting to a total of USD 40 mn will become due. Incentive pro- grams potentially require payments amounting to USD 75 mn. _  Dresdner Bank AG, Franfurt/Main and its subsidiaries. With its pur- chase of 56.7 % on July 23, 2001, the Allianz Group acquired a ma- jority stake at a price of  ¤ 17,227 mn. A further 1.0 % of the stock was purchased in the period to December 31, 2001. Total acquisi- tion costs for the majority holding of 78.5 % amounted to  ¤ 19,561 mn. The goodwill reported in connection with the first-time con- solidation of Dresdner Bank Group amounted to  ¤ 3,977 mn. An additional  ¤ 659 mn for the value of the brand name was recog- nized as intangible assets. additional shares  ¤ 6,338.2 mn). This transaction produced addi- tional goodwill amounting to  ¤ 2,002 mn. In August 2002, Deutsche Hyp Deutsche Hypothekenbank AG was merged into Eurohypo AG, a company into which Commerzbank AG, Deutsche Bank AG and Dresdner Bank AG merged their mortgage lending subsidiaries. Proceeds from the sale of Deutsche Hyp Deutsche Hypothekenbank AG amounted  ¤ 1,411 mn. Effects on the consolidated financial statements for 2003 1) Date of Gross Net Disposed goodwill Deconsolidation premiums income charged to income 2)  ¤ mn ¤ mn ¤ mn AFORE Allianz Dresdner S. A. de C. V., Mexico City 11/11/2003 – 10 117 AGF AZ Chile Vida, Santiago de Chile 4/29/2003 – – – AGF Belgium Bank S. A., Brussels 12/15/2003 – – 5 – Allianz Parkway Integrated Care Pte Ltd., Singapore 9/30/2003 7 – – Merchant Investors Assurance Company Ltd., Bristol 10/3/2003 3 – – Pioneer Allianz Life Assurance Corporation, Metro Manila 1/14/2003 – – – 1) Consolidated in the business segments 2) At the date of deconsolidation