Remuneration report

The remuneration report describes and explains the basic features of the remuneration structure for the Board of Management of Talanx AG as well as the amount of remuneration paid to the Board of Management and the key criteria used in its determination. The explanations provided cover both the remuneration structure applicable to the year under review and the revised remuneration structure for the Board of Management that is to be adopted for the 2011 financial year. The remuneration of the Supervisory Board of Talanx AG, which additionally included a performance-based component for the first time in the year under review, is also described. Furthermore, the main features of the remuneration paid to managing directors and managers outside the Group Board of Management are also discussed.