Committees & Meetings of the Supervisory Board
Last update 18 April 2016 (Excerpt of the Corporate Governance Report published in the Group Annual Report 2015)
Supervisory Board Committees
The following qualified Supervisory Board committees were established to increase the efficiency of the Supervisory Board and address complex issues:
- Committee for urgent matters (Working Committee)
- Audit Committee (Accounts Committee)
- Committee for Managing Board matters (Compensation Committee)
- Strategy Committee
Because of its special importance, the entire issue of successor planning is handled by the Supervisory Board. The Vienna Insurance Group Supervisory Board has therefore not established a nomination committee.
Number of meetings of the Supervisory Board and its committees in financial year 2015
One ordinary general meeting and four Supervisory Board meetings distributed across the financial year were held in 2015.
Four meetings of the Audit Committee were also held. The financial statement and consolidated financial statement auditor, KPMG Austria GmbH Wirtschaftsprüfungsund Steuerberatungsgesellschaft (KPMG), attended all Audit Committee meetings and the Supervisory Board meeting in 2015, including the meeting that focused on the auditing of the annual financial statements of 2014 and consolidated financial statements of 2014, as well as a formal approval of the annual financial statements of 2014, and also attended the general meeting.
The Committee for Urgent Matters was contacted in writing on two occasions. Six meetings of the Committee for Managing Board Matters were held in 2015. The Strategy Committee did not hold any meetings in 2015; strategic matters were handled by the entire Supervisory Board.
No member of the Supervisory Board attended fewer than half of the Supervisory Board meetings.