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Swiss Re’s successful AGM

Swiss Re’s shareholders approved all proposals put forward by the Board of Directors at its annual general meeting (AGM) held in Zurich on 11 April 2014. This included a 10% increase in the regular dividend to CHF 3,85 per share as well as an additional special dividend of CHF 4,15 per share. Shareholders accepted all changes to the Articles of Association to enable Swiss Re to be compliant with the Swiss federal “Ordinance Against Excessive Compensation at Public Corporations” ahead of schedule. Shareholders re-elected the 11 current members of the Board of Directors who were nominated for re-election, and elected Susan L. Wagner as a new member of the Board of Directors. Walter B. Kielholz was elected as Chairman of the Board.

1,641 shareholders participated in this year’s AGM. Of the total voting shares, 69,1% were represented and the company’s annual and consolidated financial statements for 2013 were approved. The approval of the changes to Swiss Re’s Articles of Association with 93,71% ensures that Swiss Re is ahead of schedule to be fully compliant with the new Swiss “Ordinance Against Excessive Compensation at Public Corporations”.

Swiss Re Chairman Walter B. Kielholz said: “Swiss Re is now compliant with the new Swiss regulations. We’re proud to have accomplished this a year ahead of schedule. We’re grateful that Swiss Re’s shareholders have endorsed this approach once again.”

At the AGM the following members of the Board were re-elected for a one-year period:

  • Walter B. Kielholz (simultaneously elected as chairman)
  • Raymund Breu
  • Mathis Cabiallavetta
  • Raymond K.F. Ch’ien
  • Renato Fassbind
  • Mary Francis
  • Rajna Gibson Brandon
  • C. Robert Henrikson
  • Hans Ulrich Maerki
  • Carlos E. Represas
  • Jean-Pierre Roth

In addition, shareholders elected Susan L. Wagner as a new member to the Board, as proposed.

Under the new regulation, the AGM also elects the members of the Board’s Compensation Committee. The following directors were elected to the Compensation Committee:

  • Renato Fassbind
  •  C. Robert Henrikson
  • Hans Ulrich Maerki
  • Carlos E. Represas

At the constituent meeting of the Board, Mathis Cabiallavetta and Renato Fassbind were elected as Vice-Chairmen. Renato Fassbind was elected as Chairman of the Audit Committee. Mathis Cabiallavetta was elected as Chairman of the Finance and Risk Committee and as Chairman of the Investment Committee. C. Robert Henrikson was elected as Chairman of the Compensation Committee. Renato Fassbind was also appointed as lead independent, non-executive director.

Compensation Report approved in consultative vote

In a consultative vote, the shareholders approved the 2013 Compensation Report, outlining the company’s executive pay structure, with 88,85%.

The first binding shareholder vote on compensation as requested by the new regulation will be held at the Annual General Meeting in 2015.

Swiss Re

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