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Shareholdings in the Company

The principal shareholder in the Company is Gerling-Konzern Versiche- rungs-Beteiligungs-AG (GKB), Cologne, which controls over half our share capital. We have been notified of this majority holding in accordance with Section 20 Para. 4 of the German Public Corporation Act (AktG).

Consolidated financial statements

The consolidated financial statements and the consolidated management report are prepared by GKB and are available from the Cologne Com- mercial Registry. Owing to the inclusion of our subsidiaries in the afore- mentioned consolidated financial statements, we are exempted under Section 291 of the German Commercial Code from the requirement to prepare consolidated financial statements and a consolidated manage- ment report of our own.

Commissions and other remuneration for insurance agents, personnel expenses

2001 € 1,000

2000 € 1,000

  • 1.

    Wages and salaries

  • 2.

    Social insurance contributions and family aid

  • 3.

    Retirement benefits

  • 4.

    Total expenditure

Figures of the preceding year were updated by including the corres- ponding figures of foreign branch establishments.


6,634 2,4502,350 39,238

29,951 5,407


Additional information

Total remuneration of active members of the Executive Board for their services to the Company amounted to € 2,119 thousand. Payments to former members of the Executive Board or their surviving dependants totalled € 962 thousand. Remuneration of members of the Supervisory Board totalled € 310 thousand. The members of the Supervisory Board and Executive Board of the Company are listed on pages 4 to 5. In the year under review, the Company employed 527 persons on average, 47 of whom were managerial personnel.

Notes to the Financial Statements 89

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