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impacts of economic, geopolitical and competitive conditions and certain litigation and regulatory matters on our business.

Excluding the interest accretion, additions to provisions for nuclear waste management are based on quantity-related increases in the provisions as well as updates of the cost estimates and amount to €162 million.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

The conditions corres- pond to those applicable to independent third parties.

Regular training courses on operational risks enhance the staff’s general awareness of these issues.

These bodies ensure that a disciplined risk culture is promoted, and thus risk transparency is enhanced.

The number of employees adjusted to account for part-time staff represents 710 as at year end (previous year: 699).

On behalf of the Board of Directors and Management, we would like to thank our customers and business partners for the trust they have placed in us.

Our employees contribute with their personal engagement significantly to the success of our Bank.

As Scout24 endeavours journeys into the digital future, it finds itself in a high-tech online world.

Together with our business partners, we ensure payment security, attractive health coverage and protection against credit card abuse.

We always focus on proximity to the customer and personal service.

The individual financial needs of our customers are in the centre of our daily activities; here we concentrate on our core areas of expertise

GE Money Bank’s consolidated liabilities to group companies represent 45.2% of all borrowed capital, or 1.5 billion CHF

This development is primarily due to the decrease in the amounts due from customers position, which has declined by 166.9 million CHF mainly due to the securitisation transaction launched in March 2012.

Funding requirements are covered by the Bank’s parent company, third-party banks, the capital market and through money received from customers.

Other business areas GE Money Bank AG mainly operates in the field of rented real estate properties.

The Bank has two fully consolidated participating interests.

There is no requirement to hold capital for such risks arising from a non-trading book.

As a result, foreign exchange positions arise only to a very small extent.

The market risks standard approach is applied to calculate the necessary equity.

Liquidity risks Solvency is monitored and ensured in accordance with banking regulations.

The Bank’s Management continuously supervises both the minimum reserves (previously referred to as cash liquidity) and the total liquidity, and gives a regular account to ALCO and the Board of Directors of the Bank.

These are recorded at nominal value or acquisition cost.

The discount not yet earned is deferred in the respective balance sheet position over the term of the agreement.

Amounts due from banks Loans and interest thereon due but not yet paid are disclosed at nominal value less any value adjustments.

Amounts due from customers As a general rule, loans are disclosed at nominal value less value adjustments.

Lease financing is recorded at the value of amortised tangible assets plus due and unpaid interest, default interest and fees.

tRust assets totalled 8,777 thousand euros at 30 September 2016 (at start of financial year: 7,144 thousand euros).

Members of management are appointed by the Board and serve at the discretion of the Board, subject to any applicable agreement.

For additional information, please see also section 3.4.

On 17 December 2018, the Company drew down €250 million from line A of the syndicated loan.

priorities Change from last year We operate in highly regulated markets and interact with a number of regulators across the globe, in an environment where the nature and focus of regulation and laws remain fluid.

Risk oversees the application of the liquidity risk framework and adherence to the risk appetite as approved by the Executive Board.

The Company has taken advantage of the exemption in Section 408 of the Companies Act 2006 not to present its own income statement in these financial statements.

The ordinary shares carry the right to vote and rank pari passu for dividends.

The AGM is a key opportunity for the Board to engage with shareholders to answer questions and is the main forum for dialogue with private shareholders and the Board.

Tangible assets are disclosed under financial investments and proceeds from their sale as well as any value adjustments are regarded as recoveries and collected accordingly.

The Board of Directors may determine a different ratio for the Corporate Executive Board as a whole or for the Chairman (Group CEO) or individual members of the Corporate Executive Board (discretionary decision).

These matters included those which had the greatest effect on: the overall audit strategy, the allocation of resources in the audit; and directing the efforts of the engagement team.

As set out in the Chairman’s Statement, it has been a challenging year for our industry and markets more generally.

We now have a robust asset management platform with over 430 employees, working across nine countries.

Staff Training Plans are drawn up yearly and hinged on grade specific base-line programmes.

For DBAG Fund V, DBAG Fund VI and DBAG Fund VII, fees during the investment phase are based on the committed capital (DBAG Fund VI in the current financial year leading up to December 2016 and DBAG Fund VII1 since then).

* Please note that this request would not be processed if the signature(s) herein differs from that which appears in the Registrar’s records.

An equity incentive award which is typically delivered by the RSU plan.

In the main, the period for which the model considers the future recovery of amounts previously written off was increased from 48 months to 72 months.

The Company may before this authority expires, make an offer or enter into an agreement which would or might require equity securities to be allotted after such expiry and the Directors may allot equity securities in pursuance of that offer or agreement as if the power conferred by this resolution had not expired.

Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

The Supervisory Board profile of requirements includes, in particular, the knowledge, skills and professional expertise that are collectively required to perform the tasks of the Supervisory Board of DWS, taking into account the suitability and properness requirements of the European Banking Authority and the standards which are required under applicable laws (collective qualifications).

Annual training expenditure (in thousands of euros) (4) 172.1 74.5 Excluding Sofidy and ACE Management.

Our investment portfolio decreased in value by £2.2m over the year reflecting a number of write-downs in relation to our early-stage unquoted investments.

We will continue to work on creating a leading fiduciary asset manager with a clear performance-driven culture, with entrepreneurship and collaboration across its global platform.

we have allocated operational risks to the business line that is most strongly affected by the risk.

Additionally, 1,962 shareholder warrants were exercised during the year at a price of 323.27p.

Effective Fraud Risk Assessment programme that ensures fraud risks are adequately managed and mitigated through bank-wide anti-fraud training and awareness sessions.

As Clare remains within the M&G group, no payment in lieu of notice or other termination payment was made to her on stepping down from the Board.

Supervisory law requires the Group and all its insurance and reinsurance companies to have a proper, effective business organisation in place that ensures sound, prudent business management.

In 2000, he joined the European Leveraged Finance team.

Investment mandates specify explicitly the counterparty risk appetite for cash on deposit, foreign exchange and OTC trading whilst other counterparty risk is taken for the purposes of efficient portfolio management and reduction in risk.

SCOR will be unable to accurately predict the impact of future changes in tax law on the taxation of life insurance in the hands of policyholders.

Operating capital generation is the total capital generation before tax, adjusted to exclude market movements relative to those expected under long-term assumptions and to remove other non-operating items, including shareholder restructuring and other costs as defined under adjusted operating profit before tax.

If an acquirer of shares is not prepared to provide this declaration, the Board may refuse to register him as a shareholder with the right to vote.

The proportion of transaction opportunities that we followed up was unchanged at around three-quarters.

and the Supervisory Board The remuneration report beginning on page 84 ff.

GmbH & co. KG Unconsolidated subsidiary 0 20.8 For dBaG Fund V, a group of key management personnel as well as individual former key management personnel and other members of the investment team have invested their own money at a fixed ratio in all of the four fund companies listed above.

“Financial instruments classified at fair value through profit or loss” are structured products that are recognised using the fair value option.

(ii) Total fair value movements on other capital hedges, which are solely held to optimise the Solvency II capital position.

The company itself is not active in the operating asset management business, but rather holds a large number of major shareholdings.

This isn’t just a market trend, it’s the right thing to do for our planet and society.

Yes In the absence of business ties between Mr Jean Charest and Tikehau Capital, as the service agreement between the Company and Chardi Inc, a company of which Jean Charest is manager and shareholder, ended on 31 December 2018, the Supervisory Board considered that all the criteria set out in Article 8.5 of the AFEP-MEDEF Code were met.

Relative Carbon Footprint (also called Carbon to1) Value ratio): allocated carbon footprint per € million invested that captures the absolute impact of the portfolio per € million invested; held (total of the carbon emissions held divided by total revenues attributed to the portfolio) which assesses the efficiency of the portfolio; Carbon Intensity (also called Carbon to Revenue2) ratio): allocated carbon footprint per € million of revenues Weighted Average Carbon Intensity: arithmetical3) average carbon intensities of portfolio companies weighted by their portfolio weights which allows exposure to high emission companies to be assessed.

The latter are approved by the Group COMEX and are submitted annually to the Audit Committee and to the Board of Directors of the Company.

(5) Absolute compliance with the Group's ethical principles as described in the Code of Conduct of the SCOR Group.

Mr Kreuzkamp also serves as Management Board member of DWS Group entities DWS Investment GmbH and DWS Beteiligungs GmbH.

The Fontavis portfolios are focused on thermal, water, solar and wind power.

In 2020, we aim to increase our focus on smart ESG integration across the investment platform, intend to establish a Group Sustainability Office, and to continue to embed ESG into all of our corporate activities.

Key management personnel of DBAG serve on a number of supervisory bodies of companies in the portfolio of DBAG as well as of the funds stated above.

We expect premium income in property/casualty insurance to continue to rise in Germany in 2020, albeit at a slower rate than in the reporting period.

Current and deferred taxes are recognized in profit or loss except to the extent that the tax relates to items that are recognized directly in equity or other comprehensive income in which case the related tax is recognized either directly in equity or other comprehensive income accordingly.

More fully model our balance sheet, incorporating consideration of liabilities (and perhaps capital position) alongside our asset portfolios in each climate scenario.

Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland).

The advisory fee amounts to 2.0 percent of the capital commitment of 183 million euros to DBAG Fund VII Konzern SCSp and 1.0 percent of the cost to DBAG Fund VII Konzern B SCSp.

All these parameters promote volatility in outperformance-related income, making the amounts difficult to predict, which may well be much lower than expected.

Persons whose remuneration is decided upon do not have a right to participate in the relevant meeting, or otherwise to participate in the process.

In May 2017, IFRS  17 Insurance Contracts was published and replaces IFRS  4 insurance contracts, which currently permits a wide variety of practices.

Principal Risk Exposure We have identified 12 Principal Risks, which are explained in more detail in our Risk Management section on pages 72 to 78.

the loss from experience-related changes of 7,593 thousand euros (previous year: gain of 1,291 thousand euros) largely results from the significant decline in the actuarial rate as compared with the previous year.

The company has identified further attractive growth areas, including special films for pharmaceutical applications and for the production of composite materials; this area should be expanded in the coming years.

of this Group Annual Report regarding this and the maximum limits on remuneration/the variable remuneration components recommended in section 4.2.3(2) of the German Corporate Governance Code.

The Board, at its regular meetings, undertakes reviews of key investment and financial data, revenue projections and expenses, analyses of asset allocation, transactions and performance comparisons, share price and net asset value performance, gearing, marketing and shareholder communication strategies, the risks associated with pursuing the investment strategy and industry issues.

During these video and telephone conference meetings, an assessment was made of audit risk and strategy, the findings reported to the Group audit team were discussed in more detail, key working papers were inspected and any further work required by the Group audit team was then performed by the component auditor.

The parties agree that the purchase for the shares corresponds to their market value which will be calculated on the basis of the following formula: 5.1% of the average net annual basic rent paid for the lease object in the years 2008 – 2012 (or in the 5 years preceding the year in which the purchase or sales option was executed, if not executed in the year 2013) (inclusive) x 4.2.

Social responsibilities We recognise that Numis should take account of the needs of society, its community and the environment and maintain high ethical standards.

Restricted Stock Unit (RSU) 2017 Plan The Board approved this plan on 7 November 2017.

Therefore, revenues and earnings will be well up on the previous year.

Life technical margin (2) in 2013 was 7.3% compared to 7.7% in 2012 and 8.1% in 2011 (3) .

To ensure a seamless complaint and feedback process, the Bank has provided various communication channels for customers.

The balance of income and expenses allocated to the insurance business and shown in the technical statement of income.

In line with the growth in premiums, Swiss Life improved its operating expense ratio, thanks in particular to efficiency improvements which will be continued into 2010.