Swiss Re has reported that its shareholders adopted all proposals made by its Board of Directors at its Annual General Meeting (AGM).
Swiss Re reports that the vast majority of shareholders (98.12%) accepted the Board of Directors’ proposal to pay an ordinary dividend of USD 6.40 per share for the fiscal year 2022. This reflects Swiss Re’s very strong capital position and capital management priorities.
Starting this year, the dividend payout is declared in US dollars to comply with Swiss Re’s reporting currency.
Dividends will be paid in Swiss francs from voluntary profit reserves and its distribution goes into effect on April 18, 2023. Swiss Re shares will trade ex-dividend on April 14, 2023.
Also, the shareholders voted to re-elect Sergio P. Ermotti as Chairman of the Board of Directors. Sergio P. Ermotti will step down following the AGM and a brief transition period, as announced on March 29, 2023.
Swiss Re reports that its shareholders re-elected all other proposed members of the Board of Directors for a one-year term. Vanessa Lau and Pia Tischhauser were also elected as new Board members for a one-year term.
In addition, shareholders elected Jay Ralph to the Compensation Committee as a new member and re-elected all other proposed Compensation Committee members for a one-year term.
Swiss Re further stated that its shareholders approved the maximum aggregate amount of compensation for the members of the Board of Directors for the one-year period until the completion of the 2024 AGM with 86.69% of the votes cast.
With 94.53% of the votes cast, the firm’s shareholders approved the total amount of variable short-term pay for the members of the Group Executive Committee for the fiscal year 2022.
Furthermore, with 88.35% approval, shareholders authorized the maximum aggregate amount of fixed compensation and variable long-term compensation for members of the Group Executive Committee for the fiscal year 2024.
With 89.34% of the votes cast, shareholders adopted the 2022 Compensation Report in a consultative vote.
