talanx group annual report 2011 en

Nature of risks Notes on the balance
Notes on the balance
sheet – assets
sheet – liabilities
Notes on the
statement of income
Other information
List of shareholdings
Remuneration of the management boards of the parent company
The Board of Management was comprised of 7 (7) active members as at the balance sheet date.
The total remuneration of the Board of Management amounted to EUR 9,939 (7,035) thousand. In
the context of the share-based remuneration system newly implemented in 2011 the Board of Management
has entitlements to virtual shares with a fair value of EUR 907 thousand (27.08 shares)*
under the Talanx Share Award Plan and a fair value of EUR 233 thousand (6,072 shares)* under the
Hannover Re Share Award Plan. In addition, one member of the Board of Management was granted
stock appreciation rights of Hannover Re worth EUR 296.9 thousand (57,500 stock appreciation
rights) in the year under review for the 2010 financial year.
Former members of the Board of Management and their surviving dependants received total remuneration
of EUR 1,493 (790) thousand. An amount of EUR 10,736 (11,747) thousand was set aside to
cover projected benefit obligations due to former members of the Board of Management and their
surviving dependants.
The total remuneration paid to the Supervisory Board amounted to EUR 2,135 (1,857) thousand.
There are no pension commitments to former members of the Supervisory Board or their surviving
dependants.
No advances were extended to members of the management boards in the year under review. As
at the balance sheet date one mortgage loan to a member of the Supervisory Board existed in an
amount of EUR 64 (80) thousand with a remaining term of four years and three months. An amount
of EUR 15 thousand was repaid in the year under review, and the agreed interest rate is nominally
4.2% (effective rate of 4.2%).
All other information on the remuneration of the Board of Management and Supervisory Board
as well as the structure of the remuneration system is contained in the remuneration report from
page 88 onwards. The information provided there also includes the individualised disclosure of the
remuneration of the Board of Management and Supervisory Board and forms an integral part of the
consolidated financial statement.
* The amounts for the share-based remuneration and the numbers allocated are only finalised after the meeting of the
Supervisory Board that approves the consolidated financial statement. The figures stated are based on best estimates
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