The Talanx Group - Talanx Annual Report 2011

The Talanx Group - Talanx Annual Report 2011

The Talanx Group
Strategy
Enterprise
management
Research and
development
Markets and
general conditions
Business
development
Assets and
shareholders’ equity
30
The Talanx Group
Business activities
Group structure
The Talanx Group operates as a multi-brand provider in the
insurance and financial services sector. At the end of 2011 we
employed around 18,300 staff worldwide. The Group is headed by
the Hannover-based financial and management holding company
Talanx AG, the sole owner of which is HDI V. a. G., a mutual insurance company that can look back on more than a hundred years
of history.
The year under review was the first year in which the new configuration of our Group segments took full effect. Our organisation had
become highly complex and needed to be put on a more competitive footing for the future to enable us to achieve our growth
and profitability targets. Functions which had previously been
performed in parallel in various parts of the Group have now been
concentrated at just a few sites.
The Group companies transact the insurance lines and classes
specified in the Ordinance Concerning the Reporting by Insurance
Undertakings to the Federal Insurance Supervisory Office (BerVersV),
in some cases in direct written insurance business and in some cases
in reinsurance business, with various areas of concentration: life
insurance, accident insurance, liability insurance, motor insurance,
aviation insurance (including space insurance), legal aid insurance,
fire insurance, burglary insurance, water damage insurance, plate
glass insurance, windstorm insurance, comprehensive householders
insurance, comprehensive homeowners insurance, hail insurance,
livestock insurance, engineering insurance, omnium insurance,
marine insurance, credit and surety business (reinsurance only),
extended coverage for fire and fire loss of profits insurance, business
interruption insurance, travel assistance insurance, aviation and
space liability insurance, other property insurance, other indemnity
insurance.
In primary insurance we operate with three divisions that are
oriented towards specific client segments and each span the various lines of business: Industrial Lines, Retail Germany and Retail
International. One member of the Talanx Board of Management
takes responsibility for each of these divisions.
Industrial Lines as a global player operates worldwide: it is largely
independent of third parties and has the resources to lead international consortia. The Retail Germany segment interlinks the
German companies conducting retail business, across the traditional dividing lines between life and property/casualty insurance.
The Retail International segment operates mainly in our strategic
target markets of Central and Eastern Europe including Turkey, and
Latin America. The bancassurance cooperation alliances outside of
Germany are also assigned to this segment.
The Reinsurance segments, led by Hannover Re, remain unchanged.
Talanx is represented by its own companies or branches on all
continents. In retail business Germany is one area of concentration,
while internationally the principal focus markets are the growth
regions of Central and Eastern Europe, Turkey and Latin America.
Industrial lines and especially reinsurance are also transacted in a
number of other markets, including for example North America,
South Africa, Australia and some Asian countries.
Talanx Group. Annual Report 2011
The Corporate Operations comprise – as a financial and management holding without any business activities of its own – Talanx
AG, which performs primarily strategic duties, plus the two service
companies Talanx Service AG and Talanx Systeme AG, Talanx Reinsurance Broker, and the Financial Services sector, which is primarily
concerned with managing the Group’s investments.
Overall assessment of
the economic situation
Non-financial
performance indicators
Corporate Governance
Remuneration report
Events of special
significance
Risk report
Forecast and
opportunities report
31
Konzernstruktur
Group Structure
Talanx AG
Geschäftsbereich
Industrieversicherung
Industrial Lines Division
HDI-Gerling Industrie
Versicherung AG
Geschäftsbereich Privatund Firmenversicherung
Deutschland
Retail Germany Division
Talanx Deutschland AG
Geschäftsbereich Privatund Firmenversicherung
International
Retail International
Division
Talanx International AG
Geschäftsbereich Rückversicherung
Reinsurance Division
SchadenRückversicherung
Non-Life Reinsurance
PersonenRückversicherung
Life and Health Reinsurance
Hannover Rückversicherung AG
Konzernfunktionen
Corporate Operations
Talanx Asset
Management GmbH
HDI Versicherung AG
(Austria)
HDI-Gerling
Firmen und Privat
Versicherung AG
L’UNION de Paris
Argentina S.A.
E+S Rückversicherung AG
HDI-Gerling Assurances
(Belgique) S.A.
HDI-Gerling
Lebensversicherung AG
HDI Seguros S.A.
(Brazil)
Hannover Reinsurance
Africa Limited
Talanx Immobilien
Management GmbH
HDI-Gerling
Welt Service AG
HDI-Gerling
Pensionsmanagement AG
HDI Zastrahovane AD
(Bulgaria)
Hannover ReTakaful B.S.C (c)
(Bahrain)
Talanx Service AG
HDI-Gerling
de México Seguros S.A.
HDI-Gerling
Pensionskasse AG
HDI Seguros S.A.
(Chile)
Hannover Re
(Bermuda) Ltd.
Talanx Systeme AG
HDI-Gerling
Verzekeringen N.V.
(Netherlands)
HDI Direkt Versicherung AG
Magyar Posta Biztosító Zrt.
(Hungary)
Hannover Reinsurance
(Ireland) Ltd.
Talanx Reinsurance Broker AG
HDI-Gerling Insurance
of South Africa Ltd.
neue leben
Lebensversicherung AG
Magyar Posta
Életbiztosító Zrt.
(Hungary)
International Insurance
Company of Hannover
Ltd. (UK)
HDI Reinsurance
(Ireland) Ltd.
HDI Seguros S.A.
(Spain)
neue leben
Unfallversicherung AG
HDI Assicurazioni S.p.A.
(Italy)
Hannover Life
Reassurance Africa Limited
HDI-Gerling America Insurance
Company
PB Lebensversicherung AG
HDI Seguros S.A.
(Mexico)
Hannover Life Reassurance
Company of America
PB Versicherung AG
Metropolitana
Cía. de Seguros S.A.
(Mexico)
Hannover Life Re
of Australasia Ltd
PB Pensionsfonds AG
HDI-Gerling Zycie TU S.A.
(Poland)
Hannover Life
Reassurance Bermuda Ltd.
TARGO Lebensversicherung AG
HDI Asekuracja TU S.A.
(Poland)
Hannover Life
Reassurance (Ireland) Ltd.
TARGO Versicherung AG
OOO Strakhovaya
Kompaniya „CiV Life“
(Russia)
Hannover Life
Reassurance (UK) Ltd.
AmpegaGerling
Investment GmbH
OOO Strakhovaya
Kompaniya „HDI Strakhovanie“
(Russia)
CiV Hayat Sigorta A.Ş.
(Turkey)
HDI Sigorta A.Ş.
(Turkey)
HDI STRAKHUVANNYA
(Ukraine)
HDI Seguros S.A.
(Uruguay)
Nur die wesentlichen Beteiligungen
Main participations only
Stand / As at: 31.12.2011