Enterprise management

Declaration of the Executive Board regarding the Corporate Governance of the Company as defined by § 289 a Para. 1 Commercial Code (HGB)

German Corporate Governance Code

In the previous year Hannover Re was not in compliance with one recommendation of the German Corporate Govern-ance Code (DCGK); this year, the company’s implementation of the recommendations of the Code as amended 18 June 2009 and 26 May 2010 again diverges in one respect. In each case the recommendation in question refers to the inclusion of a cap on severance payments when concluding or renewing an Executive Board contract. The reason for this divergence is set out in the following Declaration of Conformity pursuant to § 161 Stock Corporation Act (AktG) regarding compliance with the German Corporate Governance Code. The present and all previous Declarations of Conformity of the company are published on its website ( about/corporate/declaration/index.html).


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