Our Group structure with its six segments essentially remained unchanged in the year under review.
In primary insurance, we operate with three Group segments that each span the various lines of business: Industrial Lines, Retail Germany and Retail International. One member of the Talanx Board of Management takes responsibility for each of these divisions. Industrial Lines operates worldwide. It is largely independent of third parties and has the resources to lead international consortia. The Retail Germany segment interlinks German companies conducting retail business, across the traditional boundaries between lines of business and distribution channels in life and property insurance. The Retail International segment operates mainly in our strategic target markets of Latin America and Central and Eastern Europe, including Turkey and Russia. We further streamlined our structure in this segment. The merger of Metropolitana S. A. with HDI Seguros S. A. de C. V. in Mexico in the year under review means that our Group is now represented by only one private insurance company nationwide in Mexico. This step will further strengthen the HDI brand in Latin America. The remaining HDI-Gerling company in Poland was merged with WARTA, while retaining the HDI brand.
The two reinsurance segments, Non-Life Reinsurance and Life/Health Reinsurance, are led by Hannover Rück SE. Germany and North America are the target markets for Non-Life Reinsurance, which also operates various lines of business in “Global Reinsurance” and “Specialty Lines”. Life/Health Reinsurance is divided into the areas of financial solutions and risk solutions, which includes longevity, mortality and morbidity.
The Corporate Operations segment includes Talanx AG, which performs primarily strategic duties and does not have any business activities of its own. The segment also includes the in-house service companies, as well as Talanx Reinsurance Broker, Talanx Reinsurance (Ireland) Limited and the Financial Services sector, which is primarily concerned with managing the Group’s investments.