WORLDWIDE DISTRIBUTION OF PRIVATE FINANCIAL ASSETS Munich, November 2018 Copyright Allianz 11/19/2018 1
MORE DYNAMIC POST FINANCIAL CRISIS Changes in the global wealth middle classes in millions 1,250 1,000 750 +270 Million +350 Million 500 250 0 2000 Entries from LW Entries from HW Exits to L&HW Population Growth 2010 Entries from LW Entries from HW Exits to L&HW Population Growth 2017 Copyright Allianz 11/19/2018 2
THE WEALTH MIDDLE CLASSES ARE CHINESE Wealth middle classes by region in % Wealth upper classes by region in % 6.6 3.6 9.4 9.7 8.0 6.4 7.4 15.7 13.7 12.6 28.1 2000 2017 460m 1,080m 25.8 52.3 China Western Europe North America Other Asia Latin America Eastern Europe Others 17.1 26.6 25.0 35.9 36.3 25.4 2000 2017 440m 560m 26.3 China Western Europe North America Other Asia Latin America Eastern Europe Others Copyright Allianz 11/19/2018 3
MORE DISTRIBUTIONAL EQUALITY Share of wealth deciles in total net financial assets in % 95 2000-2017 CAGR of per capita net financial assets by wealth decile in % 15 75 10 55 2000 2017 5 35 0 15-5 -5 1st 2nd 3rd 4th 5th 6th 7th 8th 9th 10th -10 1st 2nd 3rd 4th 5th 6th 7th 8th 9th 10th Copyright Allianz 11/19/2018 4
THE ALTERNATIVE RANKING Average and median net financial assets per capita 2017 in EUR Average Median Switzerland USA Sweden Netherlands Belgium Japan Singapore Taiwan Denmark Canada New Zealand UK Australia Israel France Italy Austria Germany Ireland Finland 0 30,000 60,000 90,000 120,000 150,000 180,000 Switzerland Belgium Netherlands Japan Taiwan Canada Singapore Australia New Zealand Italy Israel Sweden France USA Ireland UK Austria South Korea Spain Finland 0 30,000 60,000 90,000 Copyright Allianz 11/19/2018 5
IN OPPOSITE DIRECTIONS Difference in growth rates between average and median net financial assets 2000-2017 CAGR in percentage points 3 2 1 0-1 -2-3 Brazil Argentina Denmark Mexico Thailand Turkey Estonia Latvia Norway Poland Canada Israel Austria Russia Slovakia Serbia Czech Rep. India Romania Hungary Germany Lithuania Portugal France Slovenia South Africa USA Copyright Allianz 11/19/2018 6
DIFFERENT EFFECTS OF THE FINANCIAL CRISIS Difference in growth rates between average and median net financial assets in percentage points Difference in growth rates between average and median net financial wealth, in percentage points, 2010-2017 CAGR Difference in growth rates between average and median net financial wealth, in percentage points, 2000-2017 CAGR Copyright Allianz 11/19/2018 7
ALLIANZ WEALTH EQUITY INDEX: A BROAD SPECTRUM Slovakia Belgium South Korea China Kazakhstan Poland Ukraine Spain Norway Italy Greece Croatia Hungary Netherlands Australia Czech Rep. Romania Taiwan Thailand Argentina Slovenia Serbia Singapore Israel India Japan Estonia Turkey Switzerland Lithuania Canada Russia Peru France Portugal Finland Bulgaria Chile Brazil Mexico Austria New Zealand Latvia Colombia Ireland Malaysia Sweden Germany UK Indonesia South Africa Denmark USA Lower is better 0 1 2 3 4 5 6 7 Copyright Allianz 11/19/2018 8
Appendix Copyright Allianz 11/19/2018 9
CALCULATING THE THREE WEALTH CLASSES The 2017 global per capita net financial wealth is the basis EUR 7,700-70% Average global net financial wealth per capita EUR 25,320 +80% EUR 45,600 Low wealth class (< EUR 7,600) Middle wealth class (EUR 7,600 - EUR 45,600) High wealth class (> EUR 45,600) Copyright Allianz 11/19/2018 10