talanx group annual report 2011 en

274
Financial statements Notes
General information
Talanx Group. Annual Report 2011
Accounting principles
and policies
Related-party disclosures
Segment reporting Consolidation,
business combinations
Non-current assets held for
sale and disposal groups
IAS 24 “Related Party Disclosures” defines related parties as e.g. parent companies and subsidiaries,
subsidiaries of a common parent company, associated companies, legal entities under the influence
of management and the management of the company itself.
The related entities within the Talanx Group comprise HDI Haftpflichtverband der Deutschen
Industrie Versicherungsverein auf Gegenseitigkeit (HDI V. a. G.), which directly holds all shares of Talanx,
and all unconsolidated subsidiaries – which essentially comprises subsidiaries not included in
the consolidated financial statement due to their insubstantial contributions – and the associated
companies recognised at equity. In addition, there are the provident funds that pay benefits in favour
of employees of Talanx AG or one of its related parties after termination of their employment.
The related persons are the members of the Boards of Management and Supervisory Boards of
Talanx AG and HDI V. a. G.
Transactions between Talanx and its subsidiaries and among subsidiaries are eliminated through
consolidation and hence not discussed in the Notes. In the year under review there were outstanding
loans to HDI V. a. G. in the amount of EUR 112 million, due for repayment in October 2013. Business
relations with unconsolidated companies or with associated companies are of minor importance
overall.
For details on the remuneration received by the members of the Board of Management and Supervisory
Board of Talanx AG, please see the remarks in the Remuneration report on pages 88 et seqq.