01 Gothaer Konzern_E_09_Umschl - Gothaer Allgemeine ...

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Consolidated Financial Statements Related party disclosures GSC Gothaer Schaden-Service-Center GmbH In Gothaer’s claims settlement department, a framework agreement exists for handling legal proceedings relating to automotive processes and liability events involving parties related to the Group. Remuneration was based at most on the statutory provisions of the German Lawyers’ Remuneration Act. Fees of €0.3 million (PY: €0.2 million) were paid by Gothaer in the year under review. In addition, business relationships with non-consolidated companies that are considered by the Gothaer Group to be of significant importance are reported below. GSC Gothaer Schaden-Service-Center GmbH carries out communication-intensive business processes (call centers) and other services and also adjusts claims for Gothaer Allgemeine Versicherung AG and Gothaer Versicherungsbank VVaG. Revenues in the amount of €11.8 million (PY: €12.8 million) in 2009 were received exclusively from companies of the Gothaer Group, with Gothaer Allgemeine Versicherung AG accounting for 97.9 % of the total. At €6.6 million (PY: €6.5 million), personnel expense represented the most important expense item in the statement of income. Receivables from affiliated companies amounted to €11.9 thousand (PY: €66.7 thousand). Liabilities towards affiliated companies in the amount of a total of €4.1 million (PY: €2.8 million) consist to 89.7 % of liabilities towards Gothaer Allgemeine Versicherung AG, including a loan in the amount of €1.7 million to Gothaer Schaden-Center-Service GmbH. 194 Gothaer Group Annual Report 2009
GKC Gothaer Kunden-Service-Center GmbH Pensus Pensionsmanagement GmbH Consolidated Financial Statements GKC Gothaer Kunden-Service-Center GmbH performs services involving communicationintensive business processes (call centers) as well as other services such as policy processing and sales support for the insurance companies of the Gothaer Group. Its principal client is Gothaer Allgemeine Versicherung AG but services are increasingly performed for ASSTEL Sachversicherung AG, ASSTEL Lebensversicherung AG and Gothaer Lebensversicherung AG. 63.7 % of the revenues in the amount of €31.7 million (PY: €31.5 million) recorded in 2009 resulted from the processing of contractually defined business transactions and the handling of telephone queries in connection with the private customer business of Gothaer Allgemeine Versicherung AG. Revenues were offset in particular by personnel expense in the amount of €13.8 million (PY: €10.9 million) and other operating expenses in the amount of €15.1 million (PY: €18.1 million). The latter amount includes mainly start-up costs for EDP and communication systems. Receivables from affiliated companies amounted to €2.6 million (PY: €2.3 million) in the financial year, the lion’s share relating to Gothaer Allgemeine Versicherung AG. Liabilities towards affiliated companies totalled €19.7 million (PY: €20.1 million), €17.4 million of which related to a loan granted by Gothaer Finanzholding AG. Pensus Pensionsmanagement GmbH is responsible for the administration of pension plans for private and public sector companies and customer support. Revenues received from companies of the Gothaer Group, in particular Gothaer Lebensversicherung AG, Gothaer Allgemeine Versicherung AG and Gothaer Versicherungsbank VVaG, accounted for €0.8 million (PY: €0.7 million) of total revenues in the amount of €1.7 million for 2009 (PY: €1.9 million). As in the previous year, personnel expenses came to €1.1 million. Liabilities amounted to €1.1 million (PY: €1.1 million) and receivables to €0.5 million (PY: €0.6 million) of which €0.1 million (PY: €0.1 million) from affiliated companies. Gothaer Group Annual Report 2009 195
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108141 - 03.2009 The Gothaer Group
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Financial Highlights The Business U
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Gothaer Versicherungsbank VVaG Grou
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Foreword Rich in tradition, but for
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Competence for small and medium siz
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Target group SMEs Target group SMEs
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Target group SMEs Healthy staff - t
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Employees: our most important resou
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Passion for performance Employees I
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Employees Personnel and management
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190 Years Gothaer brand 18 Gothaer
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Topical Subject 190 Years Gothaer b
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Topical Subject Why a strong brand
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Management Report 28 Gothaer Group
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