Allianz closed the 2021 financial year with a profit of 7.1 billion euros despite billions in provisions for the debacle surrounding the structured alpha hedge funds in the USA. The operating result was 13.4 billion euros. The board members of the insurance giant are also benefiting from this development: In total, the board receives a basic salary of 10.93 million euros – an increase of 4.3 percent as reported by various media, including the “Handelsblatt”. In addition, there are the bonuses, which depend on personal performance and the overall development of the company. All in all, Allianz paid the board 38.7 million euros.
CEO Oliver Bäte receives most of it. His total remuneration is 6.91 million euros – a salary increase of nine percent. The basic salary is 1.9 million euros. According to the Handelsblatt, the plus reflects several factors. In addition to the strong operational development of the Allianz Group, Bäte also received a salary increase that the insurer’s general meeting approved in May.
0.5 million euros for Andreas Wimmer
Klaus-Peter Röhler, who has been responsible for insurance business in the German-speaking countries and in Central and Eastern Europe since April 2020, will receive a total of 2.4 million euros – as will Renate Wagner, Allianz’s head of human resources, who is also responsible for compliance, law and mergers and responsible for takeovers. CFO Guilio Terzariol also pocketed 2.4 million euros. Andreas Wimmer, who only joined the board of Allianz SE in October 2021 and is now responsible for asset management and life insurance business in the USA, will receive at least 0.5 million euros for the time being. (jb)
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