Remuneration for the Board of Management and the Supervisory Board

In the year 2009 the members of the Board of Management of Generali Deutschland received a total remuneration of € 1,806 thousand (previous year: 2,726 thousand) for their activities in the parent company and in the subsidiary companies. As resolved by the General Meeting of May 18, 2006, the remuneration of the Board of Management is not disclosed on an individualized basis.

In addition to the fixed salary, the part of the remuneration which is not performance-related also includes remuneration in kind and perquisites, such as the use of a company car or the payment of telecommunication expenses by the company. The performance-related remuneration includes a guaranteed bonus and a performance bonus. The performance bonus is based on the fulfilment of targets newly determined every year. Part of these targets are operating targets of Generali Deutschland which are applied to the whole Board of Management, while another part consists of targets fixed for the individual members of the Board of Management.

The remuneration paid to the members of the Supervisory Board in 2009 is € 2,009 thousand (previous year: 1,761 thousand).