Walter B. Kielholz is keeping his chairmanship of the Swiss Re board after shareholders gave their approval for all the proposals put forward at the reinsurance giant’s annual general meeting (AGM) yesterday in Zurich.

Among the proposals were a 12% increase in the regular dividend to CHF5.60 per share, as well as a new public share buy-back programme. The compensation of the members of the board of directors and the group executive committee also received the green light.

“Even though the current global economic situation harbours numerous uncertainties, we are optimistic for Swiss Re,” stated Kielholz during the meeting.

“We are well positioned to act quickly when needed and to achieve our strategic goals thanks to our capital strength, a global presence, and the expertise and innovative capabilities of our employees.”

Aside from the chairman, all of the proposed board members were re-elected for a one-year period. These included vice chair and lead independent director Renato Fassbind.

Meanwhile speaking at the AGM was group chief executive Christian Mumenthaler, who cited the US$421 million profit enjoyed by the enterprise in 2018 and took a moment to offer his “heartfelt thanks” to the 15,000 Swiss Re colleagues around the world.

“We have a lot of work ahead of us, and I am honoured to be at the helm of Swiss Re in these exciting times,” added Mumenthaler before also expressing his gratitude to the company’s shareholders.