Swiss Re shareholders approve all proposed resolutions put forward by the Board of Directors at the 147th Annual General Meeting
15 April 2011, Zurich
At Swiss Re’s Annual General Meeting in Zurich today, the company’s shareholders approved all resolutions put forward by the Board of Directors. Raymund Breu, Mathis Cabiallavetta, Raymond K. F. Ch’ien, Rajna Gibson Brandon and Hans Ulrich Maerki were re-elected to the Board. Furthermore, the shareholders elected Renato Fassbind as a new non-executive, independent member of the Board.
Walter B. Kielholz, Chairman of the Board of Directors of Swiss Re, said: “I am pleased to see that the shareholders approved all proposed resolutions put forward by the Board with a strong majority. This supports us in pursuing our strategy to become the leading player in the wholesale insurance and reinsurance industry and helps us play an active role in strengthening the resilience of societies faced with events like the recent earthquakes in New Zealand and Japan.”
At Swiss Re’s Annual General Meeting today in Zurich, shareholders approved:
- the annual report and the annual and consolidated financial statements for the 2010 financial year;
- in a consultative vote, the 2010 compensation report contained in the annual report;
- a withholding tax exempt repayment from capital contributions of CHF 2.75 per registered share. The repayment will begin on 26 April 2011;
- the discharge of the members of the Board of Directors for the 2010 financial year;
- the reduction and adaptation of the authorised capital to CHF 8.5 million;
- the cancellation of conditional capital for employee participation, re-allocating existing treasury shares as underlying for share-based saving and compensation plans;
- the cancellation of the conditional capital in favour of Berkshire Hathaway Inc. after the termination and repayment of the convertible perpetual capital instrument issued to Berkshire Hathaway Inc. in March 2009;
- the increase and adaptation of the conditional capital for bonds or similar instruments to CHF 5 million.
Raymund Breu, Mathis Cabiallavetta, Raymond K. F. Ch’ien, Rajna Gibson Brandon and Hans Ulrich Maerki were re-elected to the Board, each for a three-year term.
Furthermore, Renato Fassbind was elected as a new non-executive, independent member of the Board for a three-year term of office.
Shareholders also re-elected PricewaterhouseCoopers Ltd, Zurich, as auditor for a term of office of one year.
A total of 943 shareholders, representing 61.2% of Swiss Re’s voting shares, participated in this year’s Annual General Meeting.
Notes to editors
The speeches by Walter B. Kielholz, Chairman, Robert A. Scott, Chairman of the Compensation Committee, and Stefan Lippe, CEO, as well as the biographies of all Board members are available in our 147th Annual General Meeting section.
Swiss Reinsurance Company Ltd
Swiss Re is a leading and highly diversified global reinsurer. The company operates through offices in more than 20 countries. Founded in Zurich, Switzerland, in 1863, Swiss Re offers financial services products that enable risk-taking essential to enterprise and progress. The company’s traditional reinsurance products and related services for property and casualty, as well as the life and health business are complemented by insurance-based corporate finance solutions and supplementary services for comprehensive risk management. Swiss Re is rated “A+“ by Standard & Poor’s, “A1” by Moody’s and “A” by A.M. Best.
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