Overview of the compensation components
Overview of the compensation components
Compensation at Swiss Re is designed to encourage individual performance, company achievement and alignment with shareholder value. Annual and long-term incentives are balanced to reflect the risk-aligned performance of the Group, the business function, and the individual.
Swiss Re aims for total compensation that is competitive with that for equivalent positions in comparable companies in each of its markets.
The illustration on this page shows a summary of the compensation elements which are explained in the next section.
Summary of compensation elements
|
|
Base salary |
Annual Performance Incentive (API) |
Value Alignment Incentive (VAI) |
Leadership Performance Plan (LPP) | |
|
Eligible employees |
All employees |
All employees |
Employees with an API over USD 100 000 |
Upon Group CEO invitation (approx. 250 employees) | |
|
Basis for funding |
Role and experience |
EVM results |
No separate pool |
Affordability and future strategy | |
|
Basis for individual |
Role and experience |
Company, business unit and individual performance |
Deferral table |
Individual role, performance and talent assessment | |
|
Payout |
Immediate |
Immediate |
Vests after 3 years |
Vests after 3 years | |
|
Payout affected by |
Share price |
No |
No |
No |
Yes |
|
Forfeiture rules |
No |
Yes |
Yes |
Yes | |
|
KPIs |
None |
Business and individual performance |
EVM profit margin development over |
Relative TSR | |
|
Performance range |
None |
0%–200% (of target) |
50%–150% |
0%–150% | |
|
Settlement |
Cash |
Cash and shares |
Cash |
Shares | |