talanx group annual report 2011 en

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30 The Talanx Group Strategy Enterprise management The Talanx Group Business activities The Talanx Group operates as a multi-brand provider in the insurance and financial services sector. At the end of 2011 we employed around 18,300 staff worldwide. The Group is headed by the Hannover-based financial and management holding company Talanx AG, the sole owner of which is HDI V. a. G., a mutual insurance company that can look back on more than a hundred years of history. The Group companies transact the insurance lines and classes specified in the Ordinance Concerning the Reporting by Insurance Undertakings to the Federal Insurance Supervisory Office (BerVersV), in some cases in direct written insurance business and in some cases in reinsurance business, with various areas of concentration: life insurance, accident insurance, liability insurance, motor insurance, aviation insurance (including space insurance), legal aid insurance, fire insurance, burglary insurance, water damage insurance, plate glass insurance, windstorm insurance, comprehensive householders insurance, comprehensive homeowners insurance, hail insurance, livestock insurance, engineering insurance, omnium insurance, marine insurance, credit and surety business (reinsurance only), extended coverage for fire and fire loss of profits insurance, business interruption insurance, travel assistance insurance, aviation and space liability insurance, other property insurance, other indemnity insurance. Talanx is represented by its own companies or branches on all continents. In retail business Germany is one area of concentration, while internationally the principal focus markets are the growth regions of Central and Eastern Europe, Turkey and Latin America. Industrial lines and especially reinsurance are also transacted in a number of other markets, including for example North America, South Africa, Australia and some Asian countries. Talanx Group. Annual Report 2011 Research and development Markets and general conditions Group structure Business development Assets and shareholders’ equity The year under review was the first year in which the new configuration of our Group segments took full effect. Our organisation had become highly complex and needed to be put on a more competitive footing for the future to enable us to achieve our growth and profitability targets. Functions which had previously been performed in parallel in various parts of the Group have now been concentrated at just a few sites. In primary insurance we operate with three divisions that are oriented towards specific client segments and each span the various lines of business: Industrial Lines, Retail Germany and Retail International. One member of the Talanx Board of Management takes responsibility for each of these divisions. Industrial Lines as a global player operates worldwide: it is largely independent of third parties and has the resources to lead international consortia. The Retail Germany segment interlinks the German companies conducting retail business, across the traditional dividing lines between life and property/casualty insurance. The Retail International segment operates mainly in our strategic target markets of Central and Eastern Europe including Turkey, and Latin America. The bancassurance cooperation alliances outside of Germany are also assigned to this segment. The Reinsurance segments, led by Hannover Re, remain unchanged. The Corporate Operations comprise – as a financial and management holding without any business activities of its own – Talanx AG, which performs primarily strategic duties, plus the two service companies Talanx Service AG and Talanx Systeme AG, Talanx Reinsurance Broker, and the Financial Services sector, which is primarily concerned with managing the Group’s investments.
Overall assessment of the economic situation Konzernstruktur Group Structure Geschäftsbereich Industrieversicherung Industrial Lines Division HDI-Gerling Industrie Versicherung AG HDI Versicherung AG (Austria) HDI-Gerling Assurances (Belgique) S.A. HDI-Gerling Welt Service AG HDI-Gerling de México Seguros S.A. HDI-Gerling Verzekeringen N.V. (Netherlands) HDI-Gerling Insurance of South Africa Ltd. HDI Seguros S.A. (Spain) HDI-Gerling America Insurance Company Non-financial performance indicators Geschäftsbereich Privat- und Firmenversicherung Deutschland Retail Germany Division Talanx Deutschland AG HDI-Gerling Firmen und Privat Versicherung AG HDI-Gerling Lebensversicherung AG HDI-Gerling Pensionsmanagement AG HDI-Gerling Pensionskasse AG HDI Direkt Versicherung AG neue leben Lebensversicherung AG neue leben Unfallversicherung AG PB Lebensversicherung AG PB Versicherung AG PB Pensionsfonds AG TARGO Lebensversicherung AG TARGO Versicherung AG Corporate Governance Remuneration report Events of special significance Talanx AG Geschäftsbereich Privat- und Firmenversicherung International Retail International Division Talanx International AG L’UNION de Paris Argentina S.A. HDI Seguros S.A. (Brazil) HDI Zastrahovane AD (Bulgaria) HDI Seguros S.A. (Chile) Magyar Posta Biztosító Zrt. (Hungary) Magyar Posta Életbiztosító Zrt. (Hungary) HDI Assicurazioni S.p.A. (Italy) HDI Seguros S.A. (Mexico) Metropolitana Cía. de Seguros S.A. (Mexico) HDI-Gerling Zycie TU S.A. (Poland) HDI Asekuracja TU S.A. (Poland) OOO Strakhovaya Kompaniya „CiV Life“ (Russia) OOO Strakhovaya Kompaniya „HDI Strakhovanie“ (Russia) CiV Hayat Sigorta A.Ş. (Turkey) HDI Sigorta A.Ş. (Turkey) HDI STRAKHUVANNYA (Ukraine) HDI Seguros S.A. (Uruguay) Geschäftsbereich Rückversicherung Reinsurance Division Schaden- Rückversicherung Non-Life Reinsurance Personen- Rückversicherung Life and Health Reinsurance Hannover Rück versicherung AG E+S Rück versicherung AG Hannover Reinsurance Africa Limited Hannover ReTakaful B.S.C (c) (Bahrain) Hannover Re (Bermuda) Ltd. Hannover Reinsurance (Ireland) Ltd. International Insurance Company of Hannover Ltd. (UK) Hannover Life Reassurance Africa Limited Hannover Life Reassurance Company of America Hannover Life Re of Australasia Ltd Hannover Life Reassurance Bermuda Ltd. Hannover Life Reassurance (Ireland) Ltd. Hannover Life Reassurance (UK) Ltd. Risk report Forecast and opportunities report Konzernfunktionen Corporate Operations Talanx Asset Management GmbH AmpegaGerling Investment GmbH Talanx Immobilien Management GmbH Talanx Service AG Talanx Systeme AG Talanx Reinsurance Broker AG HDI Reinsurance (Ireland) Ltd. Nur die wesentlichen Beteiligungen Main participations only Stand / As at: 31.12.2011 31
Page 1 and 2: Group Annual Report 2011 Straightfo
Page 3 and 4: .� ,� �.� �,� Non-Life
Page 5 and 6: OuR VISION Talanx is the leading gl
Page 7 and 8: Our brands HDI-Gerling focuses part
Page 9 and 10: By contrast with the technical acco
Page 11 and 12: Dr. Heinz-Peter Roß Torsten Leue D
Page 13 and 14: Supervisory Board Committees Compos
Page 15 and 16: A further focus of our deliberation
Page 17 and 18: The annual financial statements are
Page 19 and 20: You can stand and work better on a
Page 21 and 22: Re-launch with a modern and efficie
Page 23 and 24: Forward together with a goal-orient
Page 25 and 26: under its own power and through acq
Page 27 and 28: Our targets: ambitious, but achieva
Page 29 and 30: Our premium volume has risen steadi
Page 31 and 32: Our target: to be fit for the futur
Page 33: Group management report. Detailed i
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Overall assessment of the economic
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Nature of risks Notes on the consol
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Nature of risks Notes on the balanc
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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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