talanx group annual report 2011 en

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96 The Talanx Group Strategy Enterprise management Pension entitlements of the active members of the Board of Management Talanx Group. Annual Report 2011 Research and development Markets and general conditions Business development Assets and financial position Name Pension commitment 1) Present value of DBO 2) as at 31.12.2011 Expenses for retirement provision 3) In EUR thousand Herbert K. Haas 390 5,369 195 Dr. Christian Hinsch 275 3,653 142 Torsten Leue 225 266 225 Dr. Thomas Noth 4) 100 Dr. Immo Querner 250 1,707 150 Dr. Heinz-Peter Roß 149 273 123 Ulrich Wallin 220 2,531 125 Total 2011 1,509 13,799 1,060 Total 2010 1,558 13,804 796 1) Value of the agreed annual maximum pension on leaving the company as contractually agreed after reaching the age of 65 2) DBO = defined benefit obligation 3) The service cost recognised in the year under review for pensions and other post-retirement benefits is stated 4) In the case of Dr. Noth a defined contribution commitment exists with an annual funding contribution of 20% of the annual fixed remuneration. The funding contribution of EUR 100 (100) thousand is stated here Remuneration of the Supervisory Board The remuneration of the Supervisory Board is governed by § 13 of the Articles of Association of Talanx AG. It is set by the General Meeting of Talanx AG. By resolution of the General Meeting of Talanx AG on 4 June 2010, the members of the Supervisory Board receive, in addition to reimbursement of their expenses, an annual fixed remuneration (basic remuneration) and a performance-based variable remuneration, which is also linked to the company’s longterm success. To make allowance for their considerable extra workload, the Chairman receives 2.5 times and his deputies 1.5 times these emoluments. In the year under review, the annual basic remuneration is EUR 50,000 per Supervisory Board member. The basic remuneration of the chairman is EUR 125,000, that of the deputy chairpersons EUR 75,000 each. In addition, commencing with the 2010 financial year, each member of the Supervisory Board receives a variable remuneration of EUR 55 for each full EUR million by which the average Group net income of the last three financial years, after non-controlling interests, exceeds the minimum return pursuant to § 113 Para. 3 Stock Corporation Act (AktG) (4% of the contributions paid on the lowest issue price of the shares) (benchmark). The factor for the chairman amounts to EUR 138, and for each of his deputies EUR 83. The variable remuneration of the members of the Supervisory Board is capped at a maximum of EUR 50,000, for the chairman at EUR 125,000 and for his deputies at EUR 75,000. If the average Group net income of the last three financial years, after non-controlling interests, falls short of the minimum return pursuant to § 113 Para. 3 Stock Corporation Act (AktG), the variable remuneration is forfeited. Further remuneration of EUR 25,000 per member has been set for the members of the Finance and Audit Committee and the Personnel Committee within the Supervisory Board. The chairman of each of these committees receives twice this amount. The total annual remuneration payable to any Supervisory Board member (including remuneration for membership of the Supervisory Board committees) is limited to a maximum of three times the basic remuneration for each member. In addition to reimbursement of their expenses, the members of the Supervisory Board receive an attendance allowance of EUR 1,000 for each meeting of the Supervisory Board or of the Supervisory Board committees in which they take part. If two or more meetings of the Supervisory Board or its committees are held on the same day, only one attendance allowance is payable for that day. The value added tax payable on the remuneration for the Supervisory Board is reimbursed by the company. The total remuneration for the Supervisory Board of Talanx AG amounted to EUR 2,135 (1,857) thousand. The details are given in the table below. The emoluments are disclosed for the individual members by name for the first time in the year under review.
Overall assessment of the economic situation Non-financial performance indicators Personal remuneration of the members of the Supervisory Board Corporate Governance Remuneration report Events of special significance Risk report Forecast and opportunities report Name In EUR thousand Function Type of remuneration 1) 2) Amount Wolf-Dieter Baumgartl 3) Chairman of the Basic remuneration 163 Supervisory Board Personnel Committee Variable remuneration 70 Finance and Audit Committee Remuneration for committee activities 123 Nomination Committee Attendance allowances 22 Standing Committee 378 Prof. Dr. Eckhard Rohkamm Deputy Chairman of the Supervisory Board Member of the Personnel Committee Finance and Audit Committee Standing Committee Ralf Rieger Deputy Chairman of the Supervisory Board Member of the Finance and Audit Committee Standing Committee Antonia Aschendorf Member of the Supervisory Board (since 1 September 2011) Basic remuneration 75 Variable remuneration 31 Remuneration for committee activities 50 Attendance allowances 13 169 Basic remuneration 77 Variable remuneration 31 Remuneration for committee activities 25 Attendance allowances 9 142 Basic remuneration 17 Variable remuneration 7 Attendance allowances 2 Karsten Faber Member of the Supervisory Board Basic remuneration 50 Jutta Hammer Member of the Supervisory Board (since 1 February 2011) Hans-Ulrich Hanke Member of the Supervisory Board (until 31 January 2011) Variable remuneration 20 Attendance allowances 5 Basic remuneration 66 Variable remuneration 19 Attendance allowances 5 Basic remuneration 24 Variable remuneration 2 Attendance allowances — Gerald Herrmann Member of the Supervisory Board Basic remuneration 50 Dr. Thomas Lindner Member of the Supervisory Board Finance and Audit Committee Nomination Committee Variable remuneration 20 Attendance allowances 5 Basic remuneration 50 Variable remuneration 20 Remuneration for committee activities 25 Attendance allowances 10 Jutta Mück Member of the Supervisory Board Basic remuneration 72 26 75 90 26 75 105 Variable remuneration 20 Attendance allowances 7 99 Talanx Group. Annual Report 2011 97
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Group Annual Report 2011 Straightfo
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.� ,� �.� �,� Non-Life
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OuR VISION Talanx is the leading gl
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Our brands HDI-Gerling focuses part
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By contrast with the technical acco
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Dr. Heinz-Peter Roß Torsten Leue D
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Supervisory Board Committees Compos
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A further focus of our deliberation
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The annual financial statements are
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You can stand and work better on a
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Re-launch with a modern and efficie
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Forward together with a goal-orient
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under its own power and through acq
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Our targets: ambitious, but achieva
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Our premium volume has risen steadi
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Our target: to be fit for the futur
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Group management report. Detailed i
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Overall assessment of the economic
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Our Locations Argentina L’UNION d
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Italy Hannover Re Services Italy S.
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Glossary. A-C Accumulation risk Und
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L-P Lapse rate for life insurance p
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Index of key terms Acquisitions Cen
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ie Ireland. Hannover Life Re (Irela
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talanx group annual report 2011 en

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