Annual Report 2003 - Hannover Re

Report of the Supervisory Board
The Executive Board's report on the company's
relations with affiliated companies has
likewise been examined by KPMG DTG and given
the following unqualified audit certificate:
"Having audited the report in accordance
with our professional duties, we confirm that
1. its factual details are correct;
2. in the case of the transactions detailed in the
report, the expenditure of the company was
not unreasonably high."
We examined both the Executive Board's
report and the auditors' report on the company's
relations with affiliated companies, and we found
everything to be in order. In the light of our examination,
we had no objections to the statement
by the Executive Board at the end of its report
on relations with affiliated companies.
As of 1 September 2003 Mr. André Arrago
and Mr. Ulrich Wallin were appointed as full
members of the Executive Board. Dr. Elke König
was also appointed as a full member of the Executive
Board as of 1 January 2004.
Hannover, 25 March 2004
For the Supervisory Board
Wolf-Dieter Baumgartl
Chairman
The annual financial statements are thus
approved and hereby duly adopted. We agree
with the Executive Board's proposal for the distribution
of the disposable profit for 2003.
With effect from the conclusion of the Annual
General Meeting on 27 May 2003 Mr. Bengt
Pihl stepped down from the Supervisory Board
as a shareholders' representative. The Supervisory
Board thanked Mr. Pihl for his constructive efforts
and his contribution to the development
of the company. At the request of the Executive
Board Hannover County Court, which is competent
in this matter, appointed Mr. Bodo Uebber
as a member of the company's Supervisory Board
effective 25 September 2003 pursuant to § 104
Para. 2 Sentence 1 Stock Corporation Act (AktG).
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