UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                   FORM 12B-25
                           NOTIFICATION OF LATE FILING


(Check One): [ ] Form 10-K   [X] Form 20-F  [ ] Form 11-K  [ ] Form 10-Q
[ ] Form N-SAR

For Period Ended: December 31, 2003

[ ]  Transition Report on Form 10-K

[ ]  Transition Report on Form 20-F

[ ]  Transition Report on Form 11-K

[ ]  Transition Report on Form 10-Q

[ ]  Transition Report on Form N-SAR

For the Transition Period Ended:__________________


If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates:



PART I -- REGISTRANT INFORMATION


ALLIANZ AKTIENGESELLSCHAFT
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Full Name of Registrant


NOT APPLICABLE
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Former Name if Applicable


KOENIGINSTRASSE 28
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Address of Principal Executive Office (Street and Number)


80802 MUENCHEN, FEDERAL REPUBLIC OF GERMANY
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City, State and Zip Code


PART II -- RULES 12B-25(B) AND (C)

If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check box if appropriate)


[X]  (a) The reasons described in reasonable detail in Part III of this form
     could not be eliminated without unreasonable effort or expense;


[X]  (b) The subject annual report, semi-annual report, transition report on
     Form 10-K, Form 20-F,11-K or Form N-SAR, or portion thereof, will be filed
     on or before the fifteenth calendar day following the prescribed due date;
     or the subject quarterly report or transition report on Form 10-Q, or
     portion thereof will be filed on or before the fifth calendar day following
     the prescribed due date; and

     (c) The accountant's statement or other exhibit required by Rule 12b-25(c)
     has been attached if applicable.


PART III -- NARRATIVE

State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q,
N-SAR, or the transition report portion thereof, could not be filed within the
prescribed time period.

     The Registrant is preparing additional disclosures with respect to equity
securities impairments under IFRS and U.S. GAAP for the 2002 period, and is
unable to gather all of the information required on a timely basis without
unreasonable effort or expense.


PART IV -- OTHER INFORMATION

(1) Name and telephone number of person to contact in regard to this
notification




      PETER HARDY                  (49)(89)                    3800-18180
------------------------   -------------------------   -------------------------
         (Name)                  (Area Code)               (Telephone Number)


(2) Have all other periodic reports required under Section 13 or 15(d) of the
Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of
1940 during the preceding 12 months or for such shorter period that the
registrant was required to file such report(s) been filed? If answer is no,
identify report(s). [X] Yes  [ ] No


(3) Is it anticipated that any significant change in results of operations from
the corresponding period for the last fiscal year will be reflected by the
earnings statements to be included in the subject report or portion thereof?
[ ] Yes  [X] No

If so, attach an explanation of the anticipated change, both narratively and
quantitatively, and, if appropriate, state the reasons why a reasonable estimate
of the results cannot be made.



                           Allianz Aktiengesellschaft
                  --------------------------------------------
                  (Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.



Date July 1, 2004                       /s/ Helmut Perlet
                                        ----------------------------------------
                                        Dr. Helmut Perlet
                                        Member of the Management Board



                                        /s/ Matthias J. Seewald
                                        ----------------------------------------
                                        Matthias J. Seewald
                                        Prokurist