Allianz SE Signs Multi-Year Partnership with Moody's KMV.

Moody's KMV Solutions to be Key Components for Allianz SE in Credit Management Decision Processes

SAN FRANCISCO & NEW YORK -- Moody's KMV, the world's leading provider of quantitative credit risk measurement and management solutions, today announced a multi-year contract to provide Allianz SE with innovative credit valuation tools. Included in the agreement is RiskFrontier[TM] a "next-generation" multi-user, portfolio management solution which is built on a robust data platform. Allianz SE will use RiskFrontier to analyze the effect of CDO tranches in its portfolios and to facilitate stress-testing across multiple commercial loans and asset classes, required by many banking and commerce regulators. In addition, Allianz SE will utilize Credit Monitor[R] and CreditEdge[R], the industry's most innovative tools to date for quantifying default risk, which are based on the Moody's KMV EDF 8.0[TM] (Expected Default Frequency) methodology.

Allianz SE will use Moody's KMV products as key components in its credit decision processes and to validate internal credit models. Moody's KMV components will be used by the investment and commercial banking and insurance divisions of Allianz SE for multiple purposes in credit risk management including the provision of early detection warnings, risk-adjusted pricing, economic capital calculation and allocation down to the exposure level.

"Moody's KMV public EDF models are the market standard in risk assessment and we view this partnership as a means of enhancing our banking and insurance businesses through better management of credit risk," said Raj Singh, Chief Risk Officer of Allianz Group. "Moody's KMV provides us with user-friendly, customizable tools that will serve as the foundation of our group's credit management processes worldwide, enabling us to make more informed decisions regarding economic capital allocation and lending."

"Today's partnership announcement again highlights the consistent and continued focus at Moody's KMV on supporting our customers with cutting-edge and customized products for use in monitoring and managing credit," said Andrew Huddart, president of Moody's KMV. "Our relationship with Allianz is an important and very valuable one to us and we look forward to working with users there to satisfy their credit risk management needs for years to come."

About Moody's KMV

Moody's KMV, a wholly owned subsidiary of Moody's Corporation, is the world's leading provider of quantitative credit risk solutions to lenders, investors and corporations. Moody's KMV tools and services provide current default probabilities, recovery estimates, valuations and correlations, and are widely used to assess portfolio risk and return. Moody's KMV serves over 1,800 clients in 85 countries, including most of the world's 100 largest financial institutions. The company maintains the largest database of corporate defaults in the world. In addition to its San Francisco headquarters, Moody's KMV has offices around the globe to serve its international customer base. Further information is available at www.moodyskmv.com.

About Allianz SE

Allianz Group is one of the world's leading insurers and financial services providers. Founded in 1890, Allianz SE is now present in more than 70 countries with over 166,000 employees. Allianz SE provides its more than 60 million customers worldwide with a comprehensive range of services in the areas of property and casualty insurance, life and health insurance, banking and asset management. Additional information may be found at www.allianz.com/news.