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Structure and level of the Supervisory Board remuneration are approved by the Annual General Meeting and are governed by the Statutes. The remuneration is non-performance-rated. The chairman and the members of the Supervisory Board receive a fixed remuneration. For their work in committees a supplementary remuneration is granted.
The individual remuneration for members of the Board of Management and the Supervisory Board in 2016 is published in the Remuneration Report of our Annual Report:
The remuneration of the Supervisory Board is defined in § 11 of the Statutes of Allianz SE as follows:
"11.1 The members of the Supervisory Board will receive an annual remuneration in an amount of EUR 100,000. The Chairman of the Supervisory Board will receive an annual remuneration of EUR 200,000 and each deputy shall receive EUR 150,000.
11.2 Each member of a committee, except for the audit committee and the nomination committee, will receive an additional annual remuneration of EUR 20,000 and committee chairmen will receive an additional annual remuneration of EUR 40,000. Members of the audit committee will receive an additional annual remuneration of EUR 40,000, while the Chairman of such committee will receive EUR 80,000. Members of the nomination committee will not receive any additional annual remuneration.
11.3 In addition, the members of the Supervisory Board will receive an attendance fee of EUR 750 for each personal attendance of meetings of the Supervisory Board and its committees requiring such personal attendance. Should several such meetings be held on the same or on consecutive days, the attendance fee will be paid only once.
11.4 Supervisory Board members who served for only part of the financial year shall receive one-twelfth of the annual remuneration for each month of service or any part of such month. The same applies to membership in Supervisory Board committees.
11.5 The remuneration according to § 11.1 and § 11.2 is due after the end of the respective fiscal year. The attendance fee according to § 11.3 is due after the respective meeting.
11.6 The Company reimburses the members of the Supervisory Board for their out-of-pocket expenses and the VAT payable on their Supervisory Board activity. The Company provides insurance coverage and technical support to the Supervisory Board members to an extent reasonable for carrying out the Supervisory Board duties.”
Besides general regulations, the statutes contain rules regarding the central bodies (Board of Management, Supervisory Board, Annual General Meeting), the annual financial statements, and the proposal for appropriation of net earnings.
The remuneration of the Board of Management is focused on sustainability and aligned with shareholder interests.
The Allianz Group Annual Report is available as PDF and in the Allianz Investor Relations App.