Shareholders give nod to Swiss Re share buy-back

Shareholders give nod to Swiss Re share buy-back | Insurance Business

Shareholders give nod to Swiss Re share buy-back
Shareholders of a major global re/insurance company have approved all proposals submitted by its board of directors during its annual general meeting (AGM).

Swiss Re shareholders, represented by 67.1% of the total voting shares, have authorised a 5.4% rise in regular dividend to CHF 4.85 per share, and a new public share buy-back programme of up to CHF 1.0 billion purchase value to be implemented before the 2018 AGM.

The AGM also saw the re-election of Walter B. Kielholz (also as chairman), Raymond K.F. Ch'ien, Renato Fassbind, Mary Francis, Rajna Gibson Brandon, C. Robert Henrikson, Trevor Manuel, Philip K. Ryan, Sir Paul Tucker, and Susan L. Wagner as members of the board of directors for a one-year period.

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They are joined by newly elected members Jay Ralph, Joerg Reinhardt, and Jacques de Vaucleroy.

Also approved during the AGM was the compensation of the board of directors and group executive committee.

A massive 88.48% of the votes cast were for the maximum aggregate amount of compensation for the members of board of directors until the 2018 AGM.

At 87.15% of the votes cast, shareholders have also approved the maximum aggregate amount of fixed and variable long-term compensation for the members of the group executive committee for the following financial year.


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