Annual Report 2011 - R+V Versicherung

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Report of the Supervisory Board
Report of the Supervisory Board
The Supervisory Board and its committees
In order to fulfil its purpose, the Supervisory Board has formed
an audit committee, a personnel committee and a mediation
committee.
The Supervisory Board and its committees have monitored and
accompanied the management of the Board of Management in
an advisory capacity in accordance with statutory regulations
and the articles of association.
The regular terms of office of Mr Wolfgang Kirsch as Member of
the Supervisory Board ended directly after the Annual General
Meeting on 11 May 2011. The terms of office of Mr Kirsch as
Chairman of the Supervisory Board, member and Chairman of
the personnel committee and as member and Chairman of the
mediation committee of the Supervisory Board also ended on
this date. The Annual General Meeting re-elected Mr Kirsch as
shareholders’ representative on the Supervisory Board with
immediate effect. In its meeting on 11 May 2011, the Supervisory
Board re-elected Mr Kirsch as the Chairman of the Supervisory
Board. In accordance with § 9 Figure 2 of the Rules
of Procedure of the Supervisory Board, this led to Mr Kirsch
remaining - as before - a member of the personnel committee
and in accordance with § 27 Section 3 MitbestG (German Co-
Determination Act), a member of the mediation committee.
Furthermore, the Supervisory Board re-elected Mr Kirsch as
Chairman of the personnel committee and as Chairman of the
mediation committee.
Due to his entry into the passive phase of partial retirement, the
term of office of Mr Achim Reuber as member of the Supervisory
Board ended with effect from 30 November 2011. Mr Reuber
was a member of the Supervisory Board as employees’ representative.
Mrs Ursula-Maria von Tesmar was appointed as member
of the Supervisory Board as elected replacement employees
representative with effect from 1 December 2011.
Cooperation with the Board of Management
The Board of Management has informed the Supervisory Board
regularly and comprehensively about the situation and development
of the Company. In the 2011 fiscal year this took place in
four meetings which the Supervisory Board attended on 9 March
2011, 11 May 2011, 16 September 2011 and 5 December 2011.
Furthermore, meetings of the audit committee of the Supervisory
Board took place on 8 March 2011 and of the personnel
committee of the Supervisory Board on 24 February 2011 and
5 December 2011. The Supervisory Board received and discussed
oral and written reports from the Board of Management in these
meetings. The Supervisory Board received further information
in quarterly written reports from the Board of Management.
All measures requiring the agreement of the Supervisory Board
were discussed in detail before a resolution was taken. Furthermore,
the Chairman of the Supervisory Board was also regularly
informed about important developments and decisions outside
meetings.
The main focus of this reporting was on the financial situation
of the company, corporate planning and outlook and financial
key performance indicators. The Supervisory Board paid special
attention to the capital investment policy of the Board of Management
against the background of the euro and debt crises. In
addition, the main focal points of the meetings and discussions
of the Supervisory Board were the development of holdings
in the direct insurance companies operating in the personal,
indemnity and accident insurance segments. The Supervisory
Board also took a close interest in the development of the
assumed reinsurance segment, development of loss ratios in
the property and accident insurance segment and measures
derived therefrom in individual insurance classes, the impact of
Solvency II and IFRS 4 Phase II, HR management measures in
the R+V Group and Board of Management matters. Moreover,
risk strategy and the risk management system was reported.