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Swiss Re Board of Directors proposes election of three new members

16th March 2017 - Author: Luke Gallin

The Board of Directors at global reinsurer Swiss Re has proposed to elect three new non-executive and independent board members, in Jay Ralph, Joerg Reinhardt and Jacques de Vaucleroy.

The reinsurance giant announced in a recent statement that its Board of Directors proposes to elect the new members at the AGM on April 21st, 2017.

Jay Ralph recently sat on the Board of Management at Allianz and has held varied executive positions with the firm in the past, including Chief Executive Officer (CEO) of Allianz Re, and CEO of Allianz Risk Transfer. He also worked at Northwestern Mutual Life Insurance Company, and Milwaukee and Centre Re Bermuda Ltd. before joining Allianz.

Since 2013 Joerg Reinhardt has been the Chairman of the Board of Directors of Novartis, and is also the Chairman of the Board of Trustees of the Novartis Foundation. Reinhardt has also been Chairman of the Board of Management and the Executive Committee of Bayer HealthCare, and a member of the Supervisory Board of MorphoSys AG.

Jacques de Vaucleroy has held executive positions with AXA and ING, and also held non-executive Board positions at Delhaize Group and Ahold Delhaize. While at AXA Group de Vaucleroy served as CEO, Northern, Central and Eastern Europe (NORCEE) region.

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“We are pleased to be able to propose the election of Jay Ralph, Joerg Reinhardt and Jacques de Vaucleroy to the Board of Directors at our upcoming Annual General Meeting. We believe their international experience and diverse backgrounds will be an important asset for Swiss Re,” said Walter B. Kielholz, Chairman, Swiss Re.

Swiss Re also announced that Carlos E. Represas, who was first elected to the Board of Directors in 2010, will not stand for re-election at the April 2017 AGM.

“On behalf of my colleagues, I would like to thank Carlos E. Represas, who has decided not to stand for re-election after serving on the Board since 2010,” added Kielholz.

The reinsurer also revealed that a number of Board members will stand for re-election at the upcoming AGM, and the Board has also proposed that Walter B. Kielholz be re-elected to the Board of Directors and be re-elected as Chairman of the Board of Directors for a one-year term.

Furthermore, the Board of Directors proposes that Raymond K.F. Ch’ien, Renato Fassbind, and C. Robert Henrikson be re-elected as members of the Compensation Committee, and that Joerg Reinhardt be elected as a member of the Compensation Committee.

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