Swiss Re confirms proposal to elect Jacques de Vaucleroy as Chairman at 2024 AGM

Swiss Re has confirmed that at its 2024 Annual General Meeting of shareholders (AGM), its Board will propose to re-elect Jacques de Vaucleroy as a member of the Board of Directors and elect him as the new Chairman of the Board of Directors for a one-year term.

Jacques de Vaucleroy has been chairing the Board in his role as Vice Chairman since Sergio P. Ermotti’s resignation on 30 April 2023.

He first joined Swiss Re’s Board of Directors in 2017 and has over 30 years of experience in the insurance industry.

At the same time, Swiss Re’s Board of Directors have nominated Geraldine Matchett for election as a new, non-executive and independent member of the Board for a one-year term.

Geraldine Matchett was Co-Chief Executive Officer and Chief Financial Officer at DSM-Firmenich Ltd (formerly Royal DSM N.V.) from 2020 to 2023, where she served as CFO from 2014 to 2020. Before that, she was Global Chief Financial Officer and member of the Operations Council of the SGS Group in Switzerland.

Swiss Re’s Vice Chairman Jacques de Vaucleroy commented, “We are delighted to propose Geraldine Matchett for election to Swiss Re’s Board of Directors.

“With her extensive experience in leading roles at international companies, she will complement well the existing expertise of the Board.”

Swiss Re also noted that consistent with its capital management priorities, it continues to focus on ensuring superior capitalisation while remaining committed to its capital return policy and deploying capital to profitable growth opportunities.

“The Group’s capital position remains strong with a Group SST ratio of 306% as of 1 January 2024. When combined with a positive business outlook, Swiss Re’s Board of Directors have decided to propose a 6% dividend increase to USD 6.80 per share,” the re/insurer said.

Swiss Re’s Vice Chairman Jacques de Vaucleroy added, “Swiss Re can look back on a successful year as it achieved all of its 2023 financial targets.

“This strong result in a demanding environment demonstrates that our business model is intact, enabling us to continue providing the sophisticated risk knowledge and peak risk capacity that our clients require to navigate existing and future perils.”