Business Report 2011 - Prisma Kreditversicherungs AG

Report of the
Supervisory Board
Dear ladies and gentlemen,
As Chairman of the Supervisory Board, I would like to congratulate the management
and staff on the excellent results for 2011 and the company’s success
in extending its market leadership.
The Supervisory Board received regular detailed reports from the Board of
Management on the performance and financial position of the company and its
subsidiaries. Regular meetings and prompt oral and written reports from the
Board of Management enabled the Supervisory Board to discharge the duties
incumbent on it by virtue of the law and the company’s articles of association.
The accounts, annual financial statements, and management report for 2011
were audited by KPMG Austria GmbH Wirtschaftsprüfungs- und Steuerberatungsgesellschaft
and received an unqualified auditor’s certificate. The Supervisory
Board has approved the results of the audit.
We have examined the annual financial statements for the year to 31 December 2011 and the Board
of Management’s proposal for the distribution of the profit for the year. This examination revealed
no grounds for objections.
The Supervisory Board has approved the annual financial statements drawn up by the Board of
Management, which are thereby adopted under section 96 (4) Aktiengesetz (Austrian Companies
Act). The Supervisory Board also endorses the Board of Management’s proposal for the distribution
of profits and recommends that the proposal be adopted by the Annual General Meeting.
In autumn 2011 Mr Robert Walter left Euler Hermes Kreditversicherungs-AG, Hamburg, to take up
a position at Allianz SE, Munich. He also stepped down from the Supervisory Board of PRISMA with
effect from 31 December 2011. His replacement on the Euler Hermes Board of Management and
on the PRISMA Supervisory Board is Ms Silke Grimm. On behalf of the Supervisory Board I wish
Ms Grimm every success with her new responsibilities, and I look forward to working with her.
For the Supervisory Board
Dr. Rudolf Scholten Vienna, March 2012
Chairman
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Business Report