Swiss Re shareholders approve all proposals put forward by the Board of Directors at the 146th Annual General Meeting
07 April 2010, Zurich
At Swiss Re’s Annual General Meeting in Zurich today, the company’s shareholders approved all proposals put forward by the Board of Directors. Walter B. Kielholz and Robert A. Scott were re-elected to the Board. Furthermore, the shareholders elected Malcolm D. Knight, Carlos E. Represas and Jean-Pierre Roth as new non-executive, independent members of the Board.
Walter B. Kielholz, Chairman of the Board of Directors of Swiss Re said: “I am very pleased to say that after a turbulent time, Swiss Re is back on track. The entire Executive Committee and all employees have delivered outstanding work over the past twelve months. This makes me proud to be Chairman of the Board of this company.”
At Swiss Re’s Annual General Meeting today in Zurich, shareholders approved:
- the annual report and the annual and consolidated financial statements for the 2009 financial year;
- in a consultative vote, the 2009 compensation report contained in the annual report;
- the dividend increase to CHF 1.00 per share compared to
CHF 0.10 in the previous year, reflecting the improved capital base and profitability of the company. The dividend will be paid from 14 April 2010 onwards;
- the discharge of the members of the Board of Directors for the 2009 financial year;
- the increase of the conditional capital for employee participation in order to ensure that sufficient shares for existing and future share-based compensation plans are available;
- the amendment of the Articles of Association in order to align them with the Swiss Intermediary-Held Securities Act, which entered into force on 1 January 2010;
- the inclusion of a provision in the Articles of Association facilitating the election of a Special Auditor with a limited mandate related to special audit reports in connection with changes in capital.
Walter B. Kielholz was re-elected to the Board for a three-year term of office. Robert A. Scott was re-elected to the Board for a two-year term of office, given that he will reach the statutory retirement age in January 2012.
Further, Malcolm D. Knight, Carlos E. Represas and Jean-Pierre Roth were elected as new non-executive, independent members 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. OBT AG, Zurich, was elected as Special Auditor for a term of three years.
A total of 1 172 shareholders, representing 50.1% of Swiss Re’s voting shares, participated in this year’s Annual General Meeting. In the first consultative vote on a compensation report in the history of Swiss Re, shareholders accepted the Compensation Report 2009 with 90.8% of the votes. In addition, the renewed mandates of Walter B. Kielholz and Robert A. Scott were approved by 95.9% and 97.0% of the votes, respectively.
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 on the Internet at www.swissre.com.
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.