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The remuneration of the Board of Management of Allianz AG supports sustainable value-oriented management. In the last several years, the remuneration instruments were increasingly differentiated, in parallel to the continued development of the control instruments. The objective of this differentiation is to arrive at a remuneration system that is balanced in its structure, and appropriate and competitive in terms of its amount. 

The remuneration of the Board of Management is determined by the Personnel Committee of the Supervisory Board. The re- muneration structure is regularly discussed and examined in the plenary meetings of the Supervisory Board. The remuneration paid to members of the Board of Management from mandates at Group companies is turned over to the company. Of the remu- neration received from mandates in companies outside the Group, 50 percent is turned over to the company. Indications on the amount of remuneration are provided in the appendix to this Annual Report on pages 171 and 172. 

## Structure of remuneration for the Board of Manage- ment 

In order to meet the above objectives for the remuneration for the Board of Management, this remuneration is made up of sev- eral components, which are explained in the following table: 

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