talanx group annual report 2011 en

Overall assessment of
the economic situation
Non-financial
performance indicators
Marketing and advertising, sales
Corporate Governance Remuneration report Events of special
significance
The multi-brand principle pursued within the Talanx Group is
reflected in the diverse forms of communication with which the
subsidiaries with their different brand names seek to address
their specific customer segments through tailored marketing and
advertising. The primary insurers within the Group, such as HDI
and HDI-Gerling, engage directly with the general public by means
of e.g. TV commercials, publicity campaigns and sponsorship activities.
Our reinsurance division and asset management operations
focus on their particular target groups. Talanx AG’s communication
activities, in turn, are addressed first and foremost to the broader
financial community and business journalists.
The sales channels employed by the Group’s companies are extremely
diverse: they range from our own tied agents’ organisations
and local representation by branch offices and sales outlets through
the use of brokers and independent agents to highly specialised
bancassurance cooperations. For further information please see the
sections on the various Group segments.
Risk report Forecast and
opportunities report
Corporate Governance
Talanx AG takes good Corporate Governance to mean responsible
enterprise management and supervision geared to sustainable value
creation. In particular, we strive to further foster the trust placed in
us by investors, our business partners and employees, and the public
at large. We also attach great importance to the efficient conduct
of their work by the Board of Management and Supervisory Board,
good cooperation between these bodies and with the com pany’s
staff, and to open and transparent corporate communications.
Talanx AG is a stock corporation under German stock corporation
law. It has three corporate bodies: the Board of Management, the
Supervisory Board and the General Meeting. The tasks and powers
of these bodies are defined by law, the company’s Articles of Association,
and the Rules of Procedure for the Board of Management
and the Supervisory Board.
In accomplishing its goal of sustainably enhancing the value of the
company, Talanx AG is guided extensively by the principles of the
German Corporate Governance Code (DCGK), with the aid of which
it has largely brought itself into line with the standards of German
listed enterprises.
Board of Management
The Board of Management leads the company at its own responsibility
and defines goals and corporate strategy. In accordance with
§ 9 Para. 1 of the Articles of Association, the Board of Management is
comprised of at least two persons. Beyond that, the Supervisory Board
determines the number of members. The Board of Management currently
consists of seven members. The Supervisory Board’s Rules of
Procedure state that it should appoint only persons who are not yet
65 years old to the Board of Management. The term of their appointment
should be chosen to end not later than in the month in which
the Board member turns 65.
The current composition of the Board of Management is set out on
page 6 of this Annual Report.
The working practice of the Board of Management is governed by
Rules of Procedure adopted by the Supervisory Board. These define
the areas of responsibility of the individual members of the Board
of Management. Notwithstanding their overall responsibility, each
member of the Board heads up the area(s) assigned to them at their
own responsibility within the scope of the resolutions of the full
Board of Management.
In addition, the Rules of Procedure set out the matters reserved for
the full Board of Management and the required voting majorities.
The full Board of Management decides in all cases where adoption of
a resolution by the full Board of Management is stipulated by law, the
Articles of Association or the Rules of Procedure.
Talanx Group. Annual Report 2011
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