1 Corporate Governance / Vision

Vision (G4-34)

Allianz Seguros adopts the governance model of the Allianz Group, whose organizational culture is based on ethics, integrity and respect for laws. In 2015, there were some changes is Allianz's organizational chart. Currently, the Statutory Board consists of a President and four Directors. They are responsible for all administration acts and operations of the company required to attain social objectives, for representing the company in or out of court and for deliberating on regulations and general administration plans, among other obligations.

The work of the Statutory Board is supported by the Executive Committee, composed of 10 members, including the President and the four statutory directors and is geared toward corporate aspects.

Other committees complete the corporate structure:

• Ethics Committee: ensures compliance with the Code of Ethics and Conduct, which guides the business conduct for Allianz Seguros.

• Risk Committee: ensures that the risk management strategy, policies and processes are efficient in identifying, assessing and mitigating possible risks to which the company is exposed.

• Reserves Committee: develops general rules for calculation, constitution, and maintenance of required cash reserves and in accordance with the legislation in force and the guidelines of the Allianz Group.

• Underwriting Committee: ensures alignment of regulations, standards and existing processes with the strategy adopted by the Executive Committee and risks established by the Risk Committee.

• Investment Committee: establishes investment management lines, seeking maximum return on assets within the standards of security, solvency and credit risks, market and liquidity, in compliance with the regulations in force and the guidelines of the Allianz Group.

• Audit Committee: reviews the financial statements and evaluates the effectiveness of independent and internal audits.

2 Corporate Governance / Organizational Structure

Organizational Structure (G4-34)