Staff
The average number of staff employed throughout the year can be broken down as follows:
| 2007 | 2006 |
|
|
|
Primary insurance companies | 14,902 | 13,377 |
Reinsurance companies | 1,922 | 1,988 |
Financial services companies | 245 | 307 |
Other | 109 | 138 |
Total | 17,178 | 15,810 |
In the disclosure for the previous year the employees of the Gerling companies were included for the period from 1 April to 31 December. If allowance is made for the Gerling companies for the full 2006 financial year, the average number of staff throughout the year was 17,549.
Expenditures on personnel | 2007 | 2006 |
Figures in EUR thousand |
|
|
Wages and salaries |
|
|
Expenditures on insurance business | 800 | 730 |
Expenditures on the administration of investments | 36 | 39 |
| 836 | 769 |
|
|
|
Social security contributions and expenditure on provisions and assistance |
|
|
Social security contributions | 129 | 135 |
Expenditures for pension provision | 41 | 55 |
Expenditures for assistance | 8 | 9 |
| 178 | 199 |
Total | 1,014 | 968 |
Transactions with related parties
IAS 24 "Related Party Disclosures" defines related parties inter alia as parent companies and subsidiaries, subsidiaries of a common parent company, associated companies, legal entities under the influence of management and the management of the company itself.
The related entities within the Talanx Group are comprised of HDI Haftpflichtverband der Deutschen Industrie V.a.G. (HDI V.a.G.), which directly holds all shares of Talanx, as well as all unconsolidated subsidiaries – which essentially encompasses the subsidiaries not included in the consolidated financial statement due their insignificant status – and the associated companies recognized at equity. In addition, there are the provident funds that pay benefits in favor of employees of Talanx or one of its related parties after termination of the employment relationship.
The related persons are the members of the Boards of Management and Supervisory Boards of Talanx AG and HDI V.a.G.