UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 Amendment No. 3 ALLIANZ AKTIENGESELLSCHAFT -------------------------------------------------------------------------------- (Name of Issuer) Ordinary Shares -------------------------------------------------------------------------------- (Title of Class of Securities) 018805101 -------------------------------------------------------------------------------- (CUSIP Number) December 31, 2003 -------------------------------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [ ] Rule 13d-1(b) [ ] Rule 13d-1(c) [X] Rule 13d-1(d) CUSIP No. 018805101 -------------------------------------------------------------------------------- 1. Names of Reporting Persons I.R.S. Identification Nos. of above persons (entities only) MUENCHENER RUECKVERSICHERUNGS-GESELLSCHAFT AKTIENGESELLSCHAFT IN MUENCHEN -------------------------------------------------------------------------------- 2. Check the appropriate Box if a Member of a Group (See Instructions) (a) (b) -------------------------------------------------------------------------------- 3. SEC Use Only -------------------------------------------------------------------------------- 4. Citizenship Federal Republic of Germany -------------------------------------------------------------------------------- 5. Sole Voting Power -46,908,267- Number of --------------------------------------------------------- Shares 6. Shared Voting Power -0- Beneficially --------------------------------------------------------- Owned by 7. Sole Dispositive Power -46,908,267- Each --------------------------------------------------------- Reporting 8. Shared Dispositive Power -0- Person With -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person -46,908,267- -------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares ( ) -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9) 12.80%(1) -------------------------------------------------------------------------------- 12. Type of Reporting Person HC, CO -------------------------------------------------------------------------------- Item 1(a) Name of Issuer: ALLIANZ AKTIENGESELLSCHAFT ------------------------------------------------------------- Item 1(b) Address of Issuer's Principal Executive Offices: Koeniginstrasse 28, 80802 Munich, Federal Republic of Germany ------------------------------------------------------------- Item 2(a) Name of Person Filing: MUENCHENER RUECKVERSICHERUNGS-GESELLSCHAFT AKTIENGESELLSCHAFT IN MUENCHEN ------------------------------------------------------------- Item 2(b) Address of Principal Business Office or, if None, Residence: Koeniginstrasse 107, 80802 Munich, Federal Republic of Germany ------------------------------------------------------------- Item 2(c) Citizenship: Federal Republic of Germany ------------------------------------------------------------- Item 2(d) Title of Class of Securities: Ordinary Shares ------------------------------------------------------------- Item 2(e) CUSIP Number: 018805101 ------------------------------------------------------------- Item 3 Not applicable since statement is filed pursuant to Rule 13d-1(d). ------------------------ (1) This percentage is based on a total number of 366,362,608 outstanding shares by Allianz AG as of December 31, 2003. The percentage does not include shares of Allianz AG, which are owned by Bayerische Hypo-und Vereinsbank AG, 26.27% of latter's voting rights are owned by Muenchener Rueckversicherungs-Gesellschaft Aktiengesellschaft in Muenchen ("Munich Re"). Munich Re has not the right to direct the disposition nor the right to acquire such shares. Item 4 Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned -46,908,267- --------------------------------- (b) Percent of class: 12.80%(2) ----------------------------------------- (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote -46,908,267- ------------ (ii) Shared power to vote or to direct the vote -0- ----------- (iii) Sole power to dispose or to direct the disposition of -46,908,267- ------------------------------------------------------ (iv) Shared power to dispose or to direct the disposition of -0- ------------------------------------------------- Item 5 Ownership of Five Percent or Less of a Class. Not applicable. Item 6 Ownership of More than Five Percent on Behalf of Another Person. Not applicable. Item 7 Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company. Not applicable. Item 8 Identification and Classification of Members of the Group. Not applicable. Item 9 Note of Dissolution of Group. Not applicable. Item 10 Certifications. Not applicable. -------------------------- (2) Please refer to footnote 1. SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: February 12, 2004 /s/ Hans Volker Sprave -------------------------------------- HANS VOLKER SPRAVE DEPUTY MEMBER OF THE EXECUTIVE MANAGEMENT /s/ Dr. Daniel Von Borries -------------------------------------- DR. DANIEL VON BORRIES MEMBER OF THE EXECUTIVE MANAGEMENT