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Allianz Annual Report 2013

Annual Report 2013    Allianz Group58 Our steering BOARD OF MANAGEMENT AND ORGANIZATIONAL STRUCTURE Allianz SE has a divisional Board structure that is further split into functional and business responsibilities. The business-related divi- sions reflect our business segments Property-Casualty, Life/Health, Asset Management and Corporate and Other. These are overseen by seven board members, with six members concentrating on the insur- ance business segments and one on Asset Management as a stand- alone segment. The remaining four divisions (i.e. Chairman of the Board of Management, Finance, Investments and Operations) focus on Group functions, along with business-related responsibilities. Members of the Board of Management and their responsibilities in 20131 Board members Responsibilities Michael Diekmann Chairman of the Board of Management Dr. Dieter Wemmer Finance, Controlling, Risk Dr. Maximilian Zimmerer Investments, Global Life/Health Dr. Christof Mascher Operations, ­Allianz Worldwide Partners Oliver Bäte Insurance Western & Southern Europe, Global Property-Casualty Gary Bhojwani Insurance USA Dr. Werner Zedelius Insurance German Speaking Countries, Banking, Human Resources Manuel Bauer Insurance Growth Markets Jay Ralph Asset Management Worldwide Clement Booth Global Insurance Lines & Anglo Markets Dr. Helga Jung Insurance Iberia & Latin America, Legal & Compliance, Mergers & Acquisitions 1 For further information about the remuneration structure, including target setting and performance assessment, please refer to the Remuneration Report starting on page 37. TARGET SETTING AND MONITORING The ­Allianz Group steers its operating entities and business seg- ments via an integrated management and control process. This starts with the definition of a business-specific strategy and goals, which are discussed and agreed between the Holding and operating entities. According to this strategy, a three-year plan is prepared by the operating entities and aggregated to form the financial plans for the business divisions and the ­Allianz Group. The Supervisory Board then approves the plan and sets corresponding targets for the Board of Management. The performance-based remuneration of the Board of Management is linked to short-, mid- and long-term targets to ensure effectiveness and emphasize sustainability. For further details, please refer to the Remuneration Report starting on    page 37. This plan also forms the basis for our capital management. We continuously monitor our business performance against these targets through monthly reviews to ensure that appropriate measurescanbetakenintheeventofnegativedevelopments.During these reviews, we monitor key operational and financial metrics. Operating profit and net income are the main financial performance indicators across all business segments for the ­Allianz Group. In addition, we also use segment-specific figures such as the combined ratio for Property-Casualty, in-force and new business margins and margin on reserves for Life/Health and the cost-income ratio for Asset Management. For a comprehensive view of our segment perfor- mance, please refer to the Management Discussion and Analysis starting on    page 64. Besides performance steering, we also have a risk steering pro- cess in place, which is described in the Risk and Opportunity Report starting on    page 105. Non-financial key performance indicators (KPIs) are mainly usedforthesustainabilityassessmentofthemid-termbonus–under the category “partner of choice” mainly the following KPIs are consid- ered: ­Allianz Engagement Survey and Net Promoter Score results, brand performance (measured by the Funnel Performance Index), diversity development, organizational transparency (as measured by the Transparency International Corporate Reporting ranking) and sustainability development (as measured by widely recognized indi- ces and rankings).

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