Reinsurance giant Swiss Re’s shareholders approved all motions put forward by the Board of Directors at its Annual General Meeting (AGM), with all proposed members of the Board of Directors re-elected for a one-year term, and the election of Jacques de Vaucleroy as the new Chairman of the Board.
Additionally, Geraldine Matchett has been elected as a new Board member for a one-year term.
de Vaucleroy, who will serve as Chairman for a one-year term, commented, “I would like to thank shareholders for their support and trust in me. Since joining the Board of Directors seven years ago, my appreciation for Swiss Re has only grown.
“I look forward to continuing to work with the Board of Directors and the management team as we remain focused on increasing profitability and shareholder returns.”
Also at the AGM, the shareholders approved the distribution of an ordinary dividend of $6.80 per share, with a majority of 99.26% of the votes cast for the 2023 financial year, reflecting Swiss Re’s strong capital position and capital management priorities.
The dividend will be paid converted into Swiss francs, out of voluntary profit reserves and will be distributed beginning 18th April 2024. Consequently, from 16th April 2024, Swiss Re shares will be traded ex-dividend.
At the same time, shareholders re-elected all proposed Compensation Committee members for one year and approved the compensation of the Board of Directors and Group Executive Committee.
Shareholders approved with 83.16% of the votes cast the maximum aggregate amount of compensation for the members of the Board of Directors for the one-year term until the completion of the 2025 AGM. They also approved the aggregate amount of variable short-term compensation for the group Executive Committee members for the 2023 financial year with 93.51% of the votes cast.
Finally, shareholders approved the maximum aggregate amount of fixed compensation and variable long-term compensation for the group Executive Committee members for the 2025 financial year with 83.69%. In a consultative vote, the shareholders approved the 2023 Compensation Report with 90.45% of the votes cast.
