Swiss Re shareholders sign-off on all proposals at 2022 AGM

Swiss Re’s shareholders approved all proposals put forward by the board of directors at Wednesday’s annual general meeting (AGM), the company has announced. This included the distribution of an ordinary dividend of CHF5.90 per share (about CA$7.93), the re-election of Sergio P. Ermotti as chairman of the board, and the re-election of all other proposed board members.

“When I took office a year ago, I emphasized that Swiss Re needed to strengthen its resilience to meet the expectations of investors, clients and employees,” Ermotti said. “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 earning power, and I am convinced that we can improve our performance even further in the future.”

Shareholders approved the proposal to pay the dividend of CHF5.90 per share with a majority of 99.1% of the votes cast. The dividend is at the same level as the previous year’s distribution and reflects Swiss Re’s strong capital position and capital management priorities, the company said. The dividends will be paid out of voluntary profit reserves and will be distributed beginning April 21. From April 19, Swiss Re shares will be traded ex-dividend.

In addition to reelecting Ermotti and other proposed board members, shareholders elected Deanna Ong as a new member of the Compensation Committee. At the constitutional meeting of the board of directors, Renato Fassbind was re-appointed as vice chairman and lead independent director.