In order to satisfy the requirements of the Regulation on the Supervisory Law Requirements for Remuneration Schemes in the Insurance Sector (VersVergV), which entered into force on 13 October 2010, a consistent worldwide remuneration system has been in effect since 1 January 2012 for all managers of the Hannover Re Group; it satisfies the special requirements of § 4 VersVergV in its principles and parameters and is applied in an appropriate form according to the particular level of management. For further information please see the section “Remuneration report”.