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Allianz offers a comprehensive range of insurance and asset management products and services to approximately 78 million customers in more than 70 countries. Their product portfolio includes a wide range of Property-Casualty and Life/Health insurance products for both private and corporate customers. They are the leading property-casualty insurer globally and rank among the top five in the life/health insurance business. Most of their insurance markets are served by local Allianz companies while selected business lines are run globally such as Global Corporate Customers, Credit Insurance, Assistance Services, Worldwide Care, Global Automotive and Reinsurance. Based on premiums, we estimate the split between private and corporate clients to be approximately 50% and 50% for their Property-Casualty segment, and approximately 80% and 20% for our Life/Health segment, respectively. As of December 31, 2012, with more than 1,852 billion euros assets under management, they are one of the largest asset managers in the world managing assets with active investment strategies. Since January 1, 2012, they run the Asset Management business out of two distinct investment management businesses, PIMCO and Allianz Global Investors (AllianzGI). Both units operate under Allianz Asset Management (AAM). They intend to tailor products, solutions and distribution that best meet our clients' needs, and further strengthen both brands. Particular strongholds include the United States, Germany, France, Italy, the United Kingdom and the Asia-Pacific region. As of December 31, 2012, Allianz managed 1,438 billion euros of third-party assets of which the share from institutional clients amounted to 64% while 36% came from retail clients.