Associated companies and Persons
Associated companies represent on the one hand the affiliated companies, joint ventures listed in point 4 and associated companies. In addition, the executive committees and supervisory boards of Wiener Städtische Versicherung AG Vienna Insurance Group and those closely linked to them are to be classified as associates. Wiener Städtische Wechselseitige Versicherungsanstalt-Vermögensverwaltung holds the majority of the voting rights in Wiener Städtische Versicherung AG Vienna Insurance Group. This controlling stake means that it is also an associated company.
In the reporting periods no loans or guarantees were granted to the members of the Managing Board and the Supervisory Board.
Likewise, no loans or guarantees existed as of 31 December 2008 and 31 December 2007.
Transactions with Associated companies
The Group provides Wiener Städtische Wechselseitige Versicherungsanstalt-Vermögensverwaltung with office premises for a fee. Other services (e.g. bookkeeping operations) are furnished by the Group.
Internal reinsurance relations, to a subordinated extent, as well as financial dealings in the real estate area and accounting operations (bookkeeping, personnel recruiting, data processing etc.) exist with consolidated affiliated companies.
It is mainly financial and accounting operations that exist with non-consolidated affiliated and associated companies.
Compare to 2007