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Munich Re Supervisory Board Chairman: Professor Dr. jur. Dr.-Ing. E. h. Dieter Spethmann, Attorney, former Chairman of the Board of Management of Thyssen AG Deputy Chairman: Dr. rer. pol. Wolfgang Röller, Chairman of the Supervisory Board of Dresdner Bank AG Deputy Chairman: Dr. jur. Wolfgang Schieren († 24th February 1996), Chairman of the Supervisory Board of Allianz AG Holding Deputy Chairman: Dr. jur. Henning Schulte-Noelle (since 21st March 1996), Chairman of the Board of Management of Allianz AG Holding Herbert Bach, Employee of the Munich Reinsurance Company Christiane Bartl, Employee of the Munich Reinsurance Company Peter Burgmayr, Employee of the Munich Reinsurance Company Ulrich Hartmann, Chairman of the Board of Management of VEBA AG Dr. jur. Edgar Jannott, Chairman of the Boards of Management of VICTORIA Holding AG, VICTORIA Versicherung AG and VICTORIA Lebensversicherung AG Ludwig Knabl, Employee of the Munich Reinsurance Company Hilmar Kopper, Spokesman of the Board of Management of Deutsche Bank AG Dr.-Ing. E. h. Eberhard v. Kuenheim, Chairman of the Supervisory Board of Bayerische Motoren Werke AG Dr. techn. h. c. Dipl.-Ing. ETH Ferdinand Piëch, Chairman of the Board of Management of Volkswagen AG Dr. jur. Albrecht Schmidt, Spokesman of the Board of Management of Bayerische Vereinsbank AG Dr. rer. nat. Klaus Schumann, Employee of the Munich Reinsurance Company Dr.-Ing. Dieter Soltmann, General Partner of Gabriel Sedlmayr Spaten-Franziskaner-Bräu KGaA 6
Munich Re Report of the Supervisory Board In accordance with the duties incumbent upon the Supervisory Board under German law and the Articles of Association, we have constantly monitored the conduct of the company’s business. During the period under review we kept ourselves informed – by means of written and oral reports from the Board of Management – of the position and development of the company and its main participations. Fundamental matters of company management were discussed at several meetings with the Board of Management. Insofar as management measures required the approval of the Supervisory Board, all the points involved were discussed in detail. The share exchange with Allianz AG Holding carried out at the beginning of the new business year and the purchase of the American Re Corporation resolved in August 1996 were closely considered and assessed together with the Board of Management. The Munich Reinsurance Company’s bookkeeping, its company accounts and consolidated accounts as at 30th June 1996, as well as the Board of Management’s report for the company and the Group as a whole, have been examined by the Bayerische Treuhandgesellschaft Aktiengesellschaft Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft and have received an unqualified auditors’ certificate. We have discussed the result of the audit in detail and it meets with our approval. Our own examination gives rise to no objections either. We approve the company accounts drawn up by the Board of Management. The accounts are thus adopted in accordance with Article 172 of the German Stock Companies Act. We agree to the proposal for the appropriation of the balance sheet profit. Dr. Wolfgang Schieren, who had been Deputy Chairman of the Supervisory Board since 1972, passed away on 24th February 1996. In the many years of his membership of the Supervisory Board, he made an especially valuable contribution to the development of our company, for which we shall always remember him with gratitude and appreciation. On 21st March 1996 Dr. Henning Schulte-Noelle, Chairman of the Board of Management of Allianz AG Holding in Munich, was appointed to Munich Re’s Supervisory Board. We have elected Dr. Schulte-Noelle to serve as Deputy Chairman of the Board alongside Dr. Röller. On 31st December 1995 Mr. Dieter Nonhoff left the Board of Management of our company to take up the position of Chairman of the Board of Management of the Hamburg-Mannheimer Versicherungs-AG in Hamburg. In his many years on our Board, he represented the company’s interests with skill and conviction. We thank him for his conscientious work and commitment. We wish to thank the Board of Management and the staff of both the Munich Reinsurance Company and the Group companies for their hard work and commitment, and the staff representatives for their objective and constructive cooperation in the interest of our company. Munich, 24th October 1996 For the Supervisory Board Prof. Dr. Dieter Spethmann Chairman 7
Page 1 and 2: MMünchener Rück Munich Re 1995/96
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Munich Re Proposal for appropriatio
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Further information is obtainable f
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