The ratings on Allianz AG and all core entities of the Munich-based Allianz Group reflect the group's extremely strong business position in Europe and other markets, extremely strong capitalization, excellent financial flexibility, and strong profitability. In July 2001, Allianz acquired Dresdner Bank AG. Allianz enjoys a dominant position in the German life and nonlife markets, and top-five positions in Italy, France, Korea, and several smaller markets. Allianz Dresdner Asset Management ranks fifth globally among investment managers, with about €1 trillion funds under management and a comprehensive product range. Dresdner subsidiary, Deutscher Investment Trust (DIT), is a leading German mutual fund manager, enhancing Allianz's growing presence in German retail financial services. DIT, and Dresdner's domestic branch network, will help Allianz to
