SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                                    FORM 6-K

                        REPORT OF FOREIGN PRIVATE ISSUER

                      PURSUANT TO RULE 13a-16 or 15d-16 OF
                       THE SECURITIES EXCHANGE ACT OF 1934

                              For December 18, 2002

                         Commission File Number: 1-15154

                           ALLIANZ AKTIENGESELLSCHAFT

                               Koeniginstrasse 28
                                  80802 Munich
                                     Germany


Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.

                         Form 20-F   x                Form 40-F
                                   -----                        -----

Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

                            Yes                          No       x
                                   -----                        -----

If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-

THIS REPORT ON FORM 6-K SHALL BE DEEMED TO BE INCORPORATED BY REFERENCE IN THE
REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-13462) OF ALLIANZ
AKTIENGESELLSCHAFT AND TO BE A PART THEREOF FROM THE DATE ON WHICH THIS REPORT
IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY
FILED OR FURNISHED.



                                   Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.



                                           ALLIANZ AKTIENGESELLSCHAFT



                                             By:  /s/ Matthias Seewald
                                                  ---------------------
                                                  Matthias Seewald
                                                  Group Reporting



                                             By:  /s/ Reinhard Preusche
                                                  ---------------------
                                                  Reinhard Preusche
                                                  Group Compliance


Date: December 18, 2002



The AGF Group was informed that a project for a tender offer on all Credit
Lyonnais's outstanding capital has been filed with the Conseil des Marches
Financiers by Credit Agricole S.A. and SACAM Developpement. The AGF Group holds
10.09% of Credit Lyonnais's share capital.

The AGF Group will fully support the offer. The AGF Group welcomes this friendly
transaction and believes that the joint entrepreneurial project developed by
Credit Agricole's and Credit Lyonnais's teams is a perfect fit for the stability
and development policy favoured since the privatisation of Credit Lyonnais with
the groupe d'actionnaires partenaires ("GAP"). The AGF Group will tender its
shares to the cash and share offer proposed by Credit Agricole S.A. and SACAM
Developpement.

This transaction underlines AGF's partnerships with Credit Lyonnais and opens up
new possibilities for future co-operations.

Jean-Philippe Thierry, Chairman and CEO of the Group, stated:

"The AGF Group welcomes the opportunity to value its investment in Credit
Lyonnais and reinforce its long-standing partnerships. We look forward, with
confidence, to the new prospects of co-operation this will open up with the new
group Credit Agricole - Credit Lyonnais. We remain committed to the growth of
the new entity, as long-lasting partner and shareholder."

These assessments are, as always, subject to the disclaimer provided below.
Cautionary Note Regarding Forward-Looking Statements

Certain of the statements contained herein may be statements of future
expectations and other forward-looking statements that are based on management's
current views and assumptions and involve known and unknown risks and
uncertainties that could cause actual results, performance or events to differ
materially from those expressed or implied in such statements. In addition to
statements which are forward-looking by reason of context, the words `may, will,
should, expects, plans, intends, anticipates, believes, estimates, predicts,
potential, or continue' and similar expressions identify forward-looking
statements. Actual results, performance or events may differ materially from
those in such statements due to, without limitation, (i) general economic
conditions, including in particular economic conditions in the Allianz Group's
core business and core markets, (ii) performance of financial markets, including
emerging markets, (iii) the frequency and severity of insured loss events, (iv)
mortality and morbidity levels and trends, (v) persistency levels, (vi) interest
rate levels, (vii) currency exchange rates including the Euro-U.S. dollar
exchange rate, (viii) changing levels of competition, (ix) changes in laws and
regulations, including monetary convergence and the European Monetary Union, (x)
changes in the policies of central banks and/or foreign governments, (xi) the
impact of acquisitions (e.g. Dresdner Bank), including related integration
issues, and (xii) general competitive factors, in each case on a local,
regional, national and/or global basis. Many of these factors may be more likely
to occur, or more pronounced, as a result of the events on, and following,
September 11th 2001.

The matters discussed in this release may also involve risks and uncertainties
described from time to time in Allianz AGs filings with the U.S. Securities and
Exchange Commission. Allianz AG assumes no obligation to update any
forward-looking information contained in this release.