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Swiss Re shareholders approve all proposals at 2024 AGM

Swiss Re shareholders approve all proposals at 2024 AGM
17-04-24 / Duty Editor

Swiss Re shareholders approve all proposals at 2024 AGM

Zurich  – Swiss Re's shareholders approved all motions put forward by the Board of Directors at its Annual General Meeting (AGM) held on 12 April, 2024. In particular:

  • The distribution of an ordinary dividend of USD 6.80 per share
  • The election of Jacques de Vaucleroy as new Chairman of the Board of Directors for a one-year term
  • The re-election of all proposed members of the Board for a one-year term
  • The election of Geraldine Matchett as a new Board member for a one-year term

Distribution of the dividend

 

With a majority of 99.26% of the votes cast, shareholders approved the proposal of the Board of Directors to pay out an ordinary dividend of USD 6.80 per share 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 18 April 2024. From 16 April 2024, Swiss Re shares will be traded ex-dividend.

Elections to the Board of Directors

 

Shareholders approved the re-election of Jacques de Vaucleroy as a member of the Board of Directors and his election as new Chairman of the Board of Directors, each for a one-year term of office until completion of the next AGM.

Swiss Re's new Chairman Jacques de Vaucleroy said: "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."

The shareholders re-elected all other proposed members of the Board of Directors for a one-year term of office. Geraldine Matchett was elected as a new Board member, for a one-year term as well.

In addition, shareholders re-elected all proposed Compensation Committee members for a one-year period.

Approval of 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.

Shareholders also approved the aggregate amount of variable short-term compensation for the members of the Group Executive Committee for the 2023 financial year with 93.51% of the votes cast. In addition, shareholders approved the maximum aggregate amount of fixed compensation and variable long-term compensation for the members of the Group Executive Committee 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.

Additional voting results and information

 

Further motions by the Board of Directors that were approved by today's AGM included:

  • The company's Annual Report (including the Management Report) and the annual and consolidated financial statements for the 2023 financial year
  • The company's Sustainability Report 2023 in a consultative vote
  • The discharge of all members of the Board of Directors for the last financial year

Detailed voting results and the minutes of the AGM will be available on Swiss Re's website. A replay of today's AGM as well as the speeches of the Chairman and the Group CEO can also be accessed on the website.

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