Wednesday, November 30th, 2022

Swiss Re shareholders approve all proposals at 2022 AGM

Swiss Re shareholders approve all proposals at 2022 AGM

Swiss Re’s shareholders accepted all proposals put ahead by the board of administrators at Wednesday’s annual basic assembly (AGM), the corporate has introduced. This included the distribution of an peculiar dividend of CHF5.90 per share (about $6.32), the re-election of Sergio P. Ermotti as chairman of the board, and the re-election of all different proposed board members.

“After I took workplace a yr in the past, I emphasised that Swiss Re wanted to strengthen its resilience to satisfy the expectations of buyers, purchasers and staff,” Ermotti stated. “Over the past yr, this has been our high precedence, specializing in high-quality portfolio and margins in our reinsurance enterprise, the profitable turnaround of Company Options, and the continued development at iptiQ. We have now achieved essential interim objectives on our solution to sustainably strengthen Swiss Re’s long-term incomes energy, and I’m satisfied that we are able to enhance our efficiency even additional sooner or later.”

Shareholders accepted the proposal to pay the dividend of CHF5.90 per share with a majority of 99.1% of the votes forged. The dividend is on the identical stage because the earlier yr’s distribution and displays Swiss Re’s sturdy capital place and capital administration priorities, the corporate stated. The dividends can be paid out of voluntary revenue reserves and can be distributed starting April 21. From April 19, Swiss Re shares can be traded ex-dividend.

Along with reelecting Ermotti and different proposed board members, shareholders elected Deanna Ong as a brand new member of the Compensation Committee. On the constitutional assembly of the board of administrators, Renato Fassbind was re-appointed as vice chairman and lead unbiased director.

As a result of Swiss Re’s new 12-year tenure restrict, Raymond Ok.F. Ch’ien stepped down as a board member.

Learn subsequent: Swiss Re faucets new group finance director

Shareholders additionally accepted the utmost combination quantity of compensation for board members for the one-year time period till the completion of the 2023 AGM with 86.4% of the votes forged. Additionally accepted was the combination quantity of variable short-term compensation for members of the group government committee for the 2021 monetary yr. Shareholders additionally accepted the combination quantity of mounted compensation and variable long-term compensation for members of the committee for the 2023 monetary yr.

Additional board proposals accepted on the AGM included:

  • Swiss re’s annual report (together with the administration report) and annual and consolidated monetary statements for the 2021 monetary yr
  • The discharge of all members of the board of administrators for the final monetary yr
  • The introduction of a 12-year tenure restrict for all present and new board members

Swiss Re’s board additionally dedicated to rising feminine illustration on the board stage to at the least 30% by the 2023 AGM.

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