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Mondial Assistance Annual Report 2008 45
Notes to the fi nancial statements of Mondial Assistance AG
DISCLOSURES UNDER ART. 663B CO, SUPPLEMENTED BY VOLUNTARY INFORMATION
IN THOUSAND CHF (IF NOT OTHERWISE INDICATED) 2008 2007
1. Participations with at least 20% of voting rights or capital share:
Mondial Assistance International AG, Wallisellen
(formerly Elvia Reiseversicherungs-Gesellschaft AG,
Wallisellen, renamed November 2008)
Share capital 25,000 25,000
Purpose: Insurance and assistance Share 100.00% 100.00%
Mondial Assistance S.A.S., Paris Share capital in thousand EUR 20,089 20,089
Purpose: Holding Share 99.99% 99.99%
2. Mondial Assistance AG belongs to the Allianz Suisse Insurance
value added tax group and is therefore jointly and severably liable
for all value added tax liabilities of the value added tax group to the
Swiss Federal Tax Administration
Risk assessment
Mondial Assistance has established a
central position for Risk management by
crea ting the post of Chief Risk Offi cer
(CRO).
The main objectives of this position are:
to ensure the development and main-•
tenance of a risk management and
controlling framework;
to define and control the Mondial •
Assistance AG risk policy in all its
dimensions (risk family, region, type
of event);
to promote and enhance a strong •
risk culture and develop risk control
mechanisms for the Company;
to provide the Executive Committee •
with relevant information to enable
them to define Mondial Assistance
Risk Strategy.
In order to ensure coherency and
accurate monitoring of risk carried
out by the group activity, several
committees have been established (such
as Underwriting Advisory Committee,
Reinsurance Committee, Reserve Com-
mittee) allowing the Risk Committee to
defi ne and maintain oversight of all risk
management activities.
PROPOSAL FOR TRANSFER OF CAPITAL RESERVES
IN THOUSAND CHF 2008 2007
Capital Reserves (Additional paid in capital) at the beginning of the year 357,000 357,000
Allocation to unrestricted reserves (100,000) -
Capital Reserves (Additional paid in capital) at the end of the year 257,000 357,000
PROPOSAL FOR THE DISTRIBUTION OF PROFITS
IN THOUSAND CHF 2008 2007
Net profi t for the fi nancial year 32,154 56,828
Balance at the beginning of the year 16,122 -
Available profi t 48,276 56,828
It is proposed to the annual general meeting to allocate a dividend as follows:
From available profi t 48,276 40,706
Allocation from unrestricted reserves 25,974 -
Proposal for dividend distribution 74,250 40,706
Balance carried forward - 16,122
Available profi t 48,276 56,828