The Allianz Group and its subsidiaries continued to be well capitalized. During the course of 2006, our strengthened capital base has been recognized by Standard & Poor’s.
Liquidity planning is an integral part of the overall financial planning and capital allocation process and is based on strategic decisions which include solvency planning, our dividend target, and expected merger and acquisition activities. The Board of Management of Allianz SE, the holding and ultimate parent company of the Allianz Group, decides, after consultation with local management of the Allianz Group companies, on how to allocate capital among the Group.
