Insurance companies have had to make certain adjustments of late, in response to the global coronavirus pandemic – from changes to remuneration, dividend payments, customer premiums, and their respective shareholder meetings. Today we bring you the latest from RSA, Ageas, and Aegon with respect to their upcoming AGMs.
The UK-headquartered insurer was among the first to unveil its shift towards electronic attendance, announcing last month that its annual general meeting will not involve the physical presence of shareholders. Now RSA has made a follow-up announcement to make it known that the May 07 London meeting will take place at 20 Fenchurch Street instead of at 200 Aldersgate, St. Paul’s.
“In light of the ongoing impact of COVID-19 and following the latest governmental rules and guidelines issued on April 16, 2020, which extended the social distancing and restrictions around gatherings of groups of people for at least another three weeks, the board has decided to move the AGM to the company’s registered office,” stated RSA.
It added: “There will be no presentations and the telephone facility will only enable shareholders to listen to the AGM proceedings. Immediately after the formal AGM, the same telephone facility will be available to allow shareholders to ask questions of the board. Alternatively, shareholders may ask a question related to the business of the AGM by sending an email to [email protected]”
The Belgium-based international insurance group is holding its ordinary and extraordinary general meeting of shareholders on May 20.
“Both meetings will take place behind closed doors at the Ageas SA/NV headquarters, rue du Marquis 1, 1000 Brussels,” it noted. “Registered shareholders will be able to follow the meetings virtually via a webcast, and will be given the opportunity to cast their votes by correspondence or by proxy, and send their questions at the latest four days prior to the meetings.”
Ageas explained: “Given the COVID-19 related measures installed by the Belgian government, and taking into account the new legislation regarding shareholders meetings in this regard, Ageas will observe a duty of care towards its shareholders and decided to organise the ordinary and extraordinary general meetings of shareholders behind closed doors.”
An Ageas representative will cast the votes on behalf of the shareholders who entered a proxy form.
The Netherlands-headquartered insurer said its annual meeting will only be accessible by electronic means in light of the current circumstances caused by the coronavirus crisis.
“This decision is based on Aegon’s commitment to take all necessary measures to protect the health and safety of its shareholders, employees, and the public,” it asserted.
“Aegon highly values its relationship with shareholders and therefore regrets that shareholders cannot be physically present during the meeting. In taking this decision, the company anticipates upcoming Dutch legislation that allows for an electronic meeting of shareholders.”
The AGM will be held on May 15, with the webcast available on the company’s website. Details on how to participate, ask questions, and exercise voting rights are also accessible online.