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Allianz Annual Report 2012

Annual Report 2012    Allianz Group In our 22 March 2012 meeting, the Supervisory Board adopted a resolution regarding the extension of the appointments of Mr. Bäte, Dr. Mascher and Mr. Ralph as members of the Board of Management until 31 December 2017. We also reviewed the extent to which individual members of the Board of Management had achieved their targets, and set their variable remuneration accordingly. During this meeting the Supervisory Board particularly focused on the annual ­Allianz SE and consolidated financial statements and the Board of Management’s recommendation for the appropriation of profits for the 2011 fiscal year. The commissioned audit firm, KPMG AG Wirtschaftsprüfungsgesell- schaft (KPMG), Munich, reported on key results from their audit. The Supervisory Board also dealt with the agenda for the 2012 AGM of ­Allianz SE and approved our proposals to be submitted to it for resolution. In addition, we resolved to appoint KPMG as auditor for the individual and consolidated financial statements for the 2012 fiscal year as well as for the auditor’s review of the half-yearly interim report. With a presentation prepared by the Board of Management, the Supervisory Board was also informed in detail on the impact of the sovereign debt crisis in Europe and on the measures taken by ­Allianz in this respect. On 9 May 2012, just before the AGM, the Board of Management briefed us on first quarter 2012 perfor- mance and on the Group’s current situation. In this context, we were also updated on current coop- eration and investment projects. We further used this meeting to prepare for the subsequent AGM. Given the imminent elections to the Supervisory Board, we also expressed our thanks to outgoing members for their work and participation on the Supervisory Board. After the elections to the Supervisory Board at the 2012 AGM, we used the inaugural meeting on 9 May 2012, to appoint Dr. Perlet as Chairman of the Supervisory Board and Dr. Cromme and Mr. Zimmer- mann as Deputy Chairmen. We also held elections for Board committees and appointed Dr. Bernotat and Mr. Landau as the independent financial experts in the meaning of § 100 (5) of the German Stock Corporation Act (“Aktiengesetz”). The Supervisory Board further agreed to increase the frequency of meetings from four to six in the 2013 fiscal year. Following the resignation of Dr. Cromme from the Supervisory Board effective 14 August 2012, as well asthecourtappointmentofMs.Bosseeffectivefrom15 August2012,theSupervisoryBoardappointed Dr. Bernotat Deputy Chairman and elected the committees by written procedure. 42

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