Talanx AG (condensed version)

This subsection gives some information on Talanx AG to supplement our report on the Talanx Group. Talanx AG is the parent company of the Talanx Group. The company serves as financial and management holding company of the Group, which is active worldwide with its own companies, branches and cooperative ventures. The companies belonging to the Talanx Group operate chiefly in the areas of primary insurance and reinsurance, but are also engaged – principally in Germany – in the financial services sector.

Unlike the consolidated financial statements, which are prepared in accordance with International Financial Reporting Standards (International Financial Reporting Standards – IFRS ) in the form adopted for use in the European Union as at 31 December 2013, Talanx AG’s annual financial statements are prepared on the basis of the German Commercial Code (HGB).

Talanx AG is a listed company and pays dividends to its shareholders out of its result as calculated under German commercial law. The significant operating control parameter for Talanx AG is therefore net income for the year as calculated in accordance with the HGB.