HDI-Gerling International Holding AG

The HDI-Gerling International Holding AG is the parent company of most foreign subsidiaries of HDI-Gerling property business group. The HDI-Gerling International Holding AG (HG-INT) was established in 2002 as HDI International Holding AG. The aim behind the formation of a new company was to transfer the administration of foreign capital investment back to Hanover and the headquarters of Talanx AG. Since 1995 the foreign capital investment of the primary insurance business was pooled under the Dutch HDI International Holding N.V. Following transfer of the holdings to the HG-INT AG, the Dutch company was liquidated at the start of 2004. With effect on 1 January 2007 the company has been renamed in HDI-Gerling International Holding AG.

The HDI-Gerling International Holding AG is a 100% affiliate of HDI-Gerling Sach Service Holding AG headquartered in Hanover and is part of the Talanx Group of companies. The affiliates of HDI-Gerling International provide the local direct insurance business outside Germany.

Financial information

HDI-Gerling International Holding AG is responsible for overall control of the legally independent insurance companies in the segment of Property/Casualty Primary Insurance based in other countries. HDI-Gerling International Holding AG is a 100 % affiliate of HDI-Gerling Sach Serviceholding AG (HG-SSH) headquartered in Hanover. It is part of the Talanx Group of companies.

The structure of the company balance sheet is characterised by shareholdings in affiliated companies. HDI-Gerling International Holding AG was hived off from the former foreign department of HDI and is now operating very successfully in 12 countries: Austria, Italy, the Netherlands, Spain, Brazil, Poland, Bulgaria, Belgium, Slovakia, Hungary, Czech Republic and Turkey.

Book values of shareholdings increased by EUR 9.3 million to reach EUR 556.1 (546.8) million on 31 December 2007.

In fiscal year 2007, HDI-Gerling International Holding AG generated income totalling EUR 33.2 (47.0) million, essentially generated by dividend payments from the affiliated companies. This includes income from shareholdings amounting to EUR 31.3 (35.0) million. Total expenditure during the year under review amounted to EUR 3.9 (2.2) million.

Based on the existing controlling profit transfer agreement, profits in the amount of EUR 28.2 (43.5) million will be transferred to HDI-Gerling Sach Serviceholding AG as agreed contractually.