Annual Report 2003 - Hannover Re

Corporate Governance report
Separate specification of compensation received by the chair and
members of the committees of the Supervisory Board
(Code Item 5.4.5 Para. 1, Sentence 3)
The compensation received by the Chairman
and Deputy Chairman of the Supervisory
Board as well as by the chair and the members
of its committees is supposed to be detailed separately.
Hannover Re has not made separate
disclosure for the chair and members of the
committees up to now. In the future, however,
Hannover Re intends to comply even more closely
with the Code. It is therefore envisaged that
arrangements in accordance with the German
Corporate Governance Code will be proposed to
the next Annual General Meeting on 2 June
2004.
Publication deadlines for the annual report
and the interim reports
(Code Item 7.1.2, Sentence 2)
The consolidated financial statements are
supposed to be publicly accessible within 90 days
of the end of the financial year, and interim reports
within 45 days of the end of the reporting
period in question. As already explained in last
year's declaration of conformity, owing to some
special features of international reinsurance business
and the associated regulatory frameworks
we marginally exceed the recommended periods
at present. We by no means, however, use the full
scope of the deadlines permitted by law. By further
optimising our reporting processes, it remains
our expectation that we shall achieve compliance
with the deadlines for the 2004 financial year.
We are in conformity with all other recommendations
of the Code.
Hannover, 25 November 2003
For the
Executive Board
For the
Supervisory Board
129