010 Chap. 1 MANAGEMENT REPORT BY THE SUPERVISORY BOARD In the year under report, the Supervisory Board of AMB Generali Holding AG continu- ously monitored the conduct of business of the Board of Management and accompanied management with its advice. For fulfilling the tasks assigned to us by law, the Articles of Association and the internal rules of the Supervisory Board, we regularly obtained detailed reports from the Board of Management about the business development, the situation and business policy of AMB Generali and its major subsidiaries. In addition, the Board of Management provided us with comprehensive information on corporate planning, risk situation and risk management as well as on the status of the major activities in the AMB Generali Group with a view to improving earnings by projects across the Group and by measures at the level of the individual companies. The reports were given in writing and verbally and were subsequently discussed with the Board of Management. Furthermore, as the Chairman of the Supervisory Board, I was continuously in close contact with the Chief Executive and obtained regular information on the decisions of the management. In order to fulfil its tasks efficiently, the Supervisory Board ­ in addition to the statutory committee to be set up in compliance with section 27 para. 3 of the Co-Determination Act ­ has established a General Committee and a Committee for Matters of the Board of Management. These committees prepare the issues to be handled by the full Super- visory Board. To the extent this is legally permissible, the Committees have also been authorized to take decisions. General information In the business year 2007 there was a change in the membership of the Supervisory Board. Mrs. Shirley Drewing-Jeitner resigned from her office at year-end 2007. As a sub- stitute member, Mr. Hans-Joachim Schroeder succeeded her in the Supervisory Board. Dr. Wolfgang Kaske Dear Shareholders,