Swiss Re shareholders approve all proposals at 2022 AGM

Zurich, 13 April 2022 – Swiss Re’s shareholders approved all proposals put forward by the Board of Directors at today’s Annual General Meeting (AGM). This included the distribution of an ordinary dividend of CHF 5.90 per share as well as the re-election of Sergio P. Ermotti as Chairman of the Board of Directors and the re-election of all other proposed members of the Board.

Swiss Re’s Chairman Sergio P. Ermotti said: “When I took office a year ago, I emphasised that Swiss Re needed to strengthen its resilience to meet the expectations of investors, clients and employees. Over the last year, this has been our top priority, focusing on high-quality portfolio and margins in our Reinsurance business, the successful turnaround of Corporate Solutions,and the continued growth at iptiQ. We have achieved important interim goals on our way to sustainably strengthen Swiss Re’s long-term earnings power, and I am convinced that we can improve our performance even further in the future.“

Distribution of dividend

With a majority of 99.1% of the votes cast, shareholders approved the proposal of the Board of Directors to pay out an ordinary dividend of CHF 5.90 per share for the 2021 financial year – at the same level as the previous year’s distribution and reflecting Swiss Re’s very strong capital position and capital management priorities.

The dividends will be paid out of voluntary profit reserves and will be distributed beginning 21 April 2022. From 19 April 2022 Swiss Re shares will be traded ex-dividend.

Elections to the Board of Directors

Shareholders approved the re-election of Sergio P. Ermotti as the Chairman of the Board of Directors as well as all other proposed members of the Board of Directors for a one-year term of office.

In addition, shareholders elected Deanna Ong as a new member of the Compensation Committee and re-elected all other proposed members for a one-year period. At the constitutional meeting of the Board of Directors, Renato Fassbind was re-appointed as Vice Chairman and as Lead Independent Director.

In line with the new 12-year tenure limit, Raymond K.F. Ch’ien did not stand for re-election and stepped down as a member of the Board of Directors.

Approval of the compensation of the Board of Directors and Group Executive Committee

Shareholders approved the maximum aggregate amount of compensation for the members of the Board of Directors for the one-year term until the completion of the 2023 AGM with 86.4% of the votes cast.

Shareholders also approved the aggregate amount of variable short-term compensation for the members of the Group Executive Committee for the 2021 financial year with 88.7% 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 2023 financial year with 87.8%.

In a consultative vote, the shareholders approved the 2021 Compensation Report with 91.1% of the votes cast.

Additional voting results and information

Further proposals 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 2021 financial year.
• The discharge of all members of the Board of Directors for the last financial year.
• The introduction of a 12-year tenure limit for all current and new Board members.

In addition, the Board of Directors formally committed to increasing the female representation at Board level to at least 30% by the 2023 AGM. In line with Swiss Re’s diversity, equity and inclusion strategy, the Board of Directors places a particular importance on increasing the proportion of women in leadership positions.

Detailed voting results and minutes of the AGM are available on Swiss Re’s website. A replay of today’s virtual shareholder information event, which took place at 10:00 CEST, as well as the speeches of the Chairman and the Chief Executive Officer can also be accessed on the website.