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Annual Report 2016

12 Share ownership, options and related instruments of governing bodies

This section is in line with Articles 663c para. 3 and 959c para. 2 cif. 11 of the Swiss Code of Obligations, which requires disclosure of shareholdings, options and related instruments held by members of the Board of Directors and Group Executive Committee (Group EC) at the end of the reporting year and of share-based compensation for the Board of Directors during the reporting year. Further disclosures in respect of board and management compensation, and persons closely related, are detailed in the Compensation Report of the Financial Report of the Swiss Re Group.

Share ownership

The number of shares held as of 31 December were:

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Members of the Group EC

2015

2016

1

The number of shares held on 30 June 2016 when Michel Liès stepped down from the Group EC was 290 692.

2

The figure shown in the 2015 Compensation Report did not reflect the sale of 10 000 shares in May 2015, which was appropriately reported as a management transaction in May 2015 according to the listing rules of the SIX Swiss Exchange.

Christian Mumenthaler, Group CEO

50 000

63 854

Michel Liès, previous Group CEO1

262 808

n/a

David Cole, Group Chief Financial Officer

54 207

68 061

John R. Dacey, Group Chief Strategy Officer

171

7 526

Guido Fürer, Group Chief Investment Officer

42 302

56 156

Agostino Galvagni, CEO Corporate Solutions

65 816

79 670

Jean-Jacques Henchoz, CEO Reinsurance EMEA

35 476

46 817

Thierry Léger, CEO Life Capital

n/a

57 610

Moses Ojeisekhoba, CEO Reinsurance

26 404

27 895

Jayne Plunkett, CEO Reinsurance Asia

n/a

29 095

J. Eric Smith, CEO Reinsurance Americas2

6 990

13 984

Matthias Weber, Group Chief Underwriting Officer

25 410

25 750

Thomas Wellauer, Group Chief Operating Officer

116 111

130 224

Total

685 695

606 642
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Members of the Board of Directors

2015

2016

1

Acting also as the Lead Independent Director.

2

Term of office expired at the AGM of 22 April 2016 and did not stand for re-election.

3

Elected to Swiss Re’s Board of Directors at the AGM of 21 April 2015.

4

Elected to Swiss Re’s Board of Directors at the AGM of 22 April 2016.

Walter B. Kielholz, Chairman

447 241

414 613

Renato Fassbind, Vice Chairman, Chairman of the Audit Committee1

15 844

19 954

Mathis Cabiallavetta, former Member2

71 346

n/a

Raymond K.F. Ch’ien, Member

18 459

19 978

Mary Francis, Member

4 329

5 927

Rajna Gibson Brandon, Member

20 216

21 700

C. Robert Henrikson, Chairman of the Compensation Committee

8 896

11 065

Hans Ulrich Maerki, former Member2

28 969

n/a

Trevor Manuel, Member3

868

2 363

Carlos E. Represas, Member

11 581

12 837

Jean-Pierre Roth, former Member2

8 443

n/a

Philip K. Ryan, Chairman of the Finance and Risk Committee3

3 394

6 134

Sir Paul Tucker, Member4

n/a

1 036

Susan L. Wagner, Chairman of the Investment Committee

3 485

6 111

Total

643 071

521 718

Share-based compensation

The share-based compensation for the members of the Board of Directors for 2015 and 2016 was:

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2015

 

2016

 

Members of the Board of Directors

Fees in blocked shares1 (CHF thousands)

Number of shares2

Fees in blocked shares1
(CHF thousands)

Number of shares2

1

Represents the portion (40%) of the total fees for the members of the Board of Directors that is delivered in Swiss Re Ltd shares, with a four-year blocking period.

2

The number of shares is calculated by dividing the portion (40%) of the total fees with the average closing price of the shares on the SIX Swiss Exchange during the ten trading days preceding the AGM less the amount of any dividend resolved by the AGM.

3

Acting also as the Lead Independent Director.

4

Term of office expired at the AGM of 21 April 2015 and did not stand for re-election.

5

Term of office expired at the AGM of 22 April 2016 and did not stand for re-election.

6

Elected to Swiss Re’s Board of Directors at the AGM of 21 April 2015.

7

Elected to Swiss Re’s Board of Directors at the AGM of 22 April 2016.

Walter B. Kielholz, Chairman

1 906

21 531

1 955

22 372

Renato Fassbind, Vice Chairman, Chairman of the Audit Committee3

350

3 955

359

4 110

Raymund Breu, former Member4

36

403

n/a

n/a

Mathis Cabiallavetta, former Member5

359

4 059

39

449

Raymond K.F. Ch’ien, Member

136

1 538

133

1 519

Mary Francis, Member

136

1 538

140

1 598

Rajna Gibson Brandon, Member

126

1 429

130

1 484

C. Robert Henrikson, Chairman of the Compensation Committee

185

2 088

190

2 169

Hans Ulrich Maerki, former Member5

136

1 538

42

483

Trevor Manuel, Member6

77

868

131

1 495

Carlos E. Represas, Member

107

1 209

110

1 256

Jean-Pierre Roth, former Member5

107

1 209

33

380

Philip K. Ryan, Chairman of the Finance and Risk Committee6

168

1 894

239

2 740

Sir Paul Tucker, Member7

n/a

n/a

91

1 036

Susan L. Wagner, Chairman of the Investment Committee

197

2 218

229

2 626

Total

4 026

45 477

3 821

43 717

Restricted shares

For the years ended 31 December 2015 and 2016, neither the members of the Board of Directors nor the members of the Group EC held any restricted shares.

Vested options

For the years ended 31 December 2015 and 2016, neither the members of the Board of Directors nor the members of the Group EC held any vested options.