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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.

30,154

6,634 2,4502,350 39,238

29,951 5,407

37,708

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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