Membership in comparable 1) supervisory bodies Membership in Group bodies Allianz Life Insurance Company of North America, Allianz S. p. A., Fireman’s Fund Insurance Company
Membership in comparable 1) supervisory bodies Membership in Group bodies Allianz Elementar Lebensversicherungs-AG (Chairman), Allianz Elementar Versicherungs-AG (Chairman), Allianz Investmentbank AG (Vice Chairman), Allianz Suisse Lebensversicherungs-Gesellschaft, Allianz Suisse Versicherungs-Gesellschaft
Membership in Group bodies until December 31, 2009 Allianz France S. A. (Chairman), Allianz France International S. A. (Chairman), Euler Hermes S. A. (Chairman), Mondial Assistance AG (Chairman)
Membership in comparable 1) supervisory bodies Banco BPI S. A., Banco Popular Español S. A.
Membership in comparable 1) supervisory bodies Bajaj Allianz General Insurance Company Limited, Bajaj Allianz Life Insurance Company Limited
Affiliated enterprises The parent company of the Group and all consolidated subsidiaries. Subsidiaries are enterprises where the parent company can exercise a significant influence over their corporate strategy in accordance with the control concept. This is possible, for example, where the parent company holds, directly or indirectly, a majority of the voting rights, has the power to appoint or remove a majority of the members of the Board of Management or equivalent governing body, or where there are contractual rights of control.
Aggregate policy reserves Policies in force – especially in life, health, and personal accident insurance – give rise to potential liabilities for which funds have to be set aside. The amount required is calculated actuarially.
Contingent liabilities Financial obligations not shown as liabilities on the balance sheet because the probability of a liability actually being incurred is low. Example: guarantee obligations.
Current employer service cost Net expense incurred in connection with a defined benefit plan less any contributions made by the beneficiary to a pension fund.
Earnings per share (basic/diluted) Ratio calculated by dividing the net income for the year attributable to shareholders by the weighted average number of shares oustanding. For calculating diluted earnings per share the number of shares and the net income for the year attributable to shareholders are adjusted by the dilutive effects of any rights to subscribe for shares which have been or can still be exercised. Subscription rights arise in connection with participation certificates and share based compensation plans.
Equity consolidation The relevant proportion of cost for the investment in a subsidiary is set off against the relevant proportion of the shareholders ’ equity of the subsidiary.
IFRS Framework The framework for International Financial Reporting Standards (IFRS) which sets out the concepts that underlie the preparation and presentation of financial statements for external users.
Income from financial assets and liabilities carried at fair value through income (net) Income from financial assets and liabilities carried at fair value through income (net) includes all realized and unrealized gains and losses including interest and dividend income from financial assets and financial liabilities carried at fair value through income, the income (net) from financial liabilities for puttable equity instruments and the foreign currency gains and losses (net).
OTC derivatives Derivative financial instruments which are not standardized and not traded on an exchange but are traded directly between two counterparties via over-the-counter (OTC) transactions.
Reserves for loss and loss adjustment expenses Reserves for the cost of insurance claims incurred by the end of the year under review but not yet settled.
Asset Management 70, 134 Assets 150 Assistance Service 70 Audit Committee 7 Australia 77 Austria 72
E Economic Value Added 61 Ecoproducts 55 Employees 51 Employee Stock Purchase Plan 52 Europe 69 Executive remuneration below the Board of Management 25 Executive remuneration principles 17
G General Meeting 13 German Corporate Governance Code 15 German Speaking Countries 68
L Learning and Development 54 Liabilities 150 Life/Health 128 Loss adjustment expenses 159
P Personnel Committee 7 Preferred Employer 53 Portugal 73 Property-Casualty 120
Photography Christian Höhn – from the series “urban worlds” Board of Management, Supervisory Board and IEC: Andreas Pohlmann