Swiss Re shareholders have approved previously-announced plans to introduce a new public share buy-back program consisting of two CHF1 billion ($995,000) tranches, effectively doubling the amount previously returned to shareholders.
Voting at the company’s Annual General Meeting (AGM) in Zurich, shareholders also approved the Board of Directors’ proposals for a 12% higher regular dividend of CHF5.60 per share.
Additionally, shareholders approved in a binding vote the compensation of the members of the Board of Directors and the Group Executive Committee.
“Even though the current global economic situation harbours numerous uncertainties, we are optimistic for Swiss Re,” said Swiss Re’s Chairman, Walter B. Kielholz.
“We are well positioned to act quickly when needed and to achieve our strategic goals thanks to our capital strength, a global presence, and the expertise and innovative capabilities of our employees.“
1,205 shareholders participated in this year’s Annual General Meeting. Of the total voting shares 65.2% were represented and the company’s annual and consolidated financial statements for 2018 were approved.
The shareholders also approved the renewal of the authorisation to issue shares under authorised capital for another two years up to 17 April 2021 and the corresponding amendments of the Articles of Association.
