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Annual Report 2018

Compensation for members of the Board of Directors

The following two tables illustrate (1) the individual compensation for the members of the Board of Directors for the reported financial years 2017 and 2018 and (2) the individual compensation for the members of the Board of Directors paid or payable for the term of office from AGM 2018 to AGM 2019.

(1) Individual Board compensation for the reported financial years 2017 and 2018 (figures in CHF thousands)

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Members of the Board of Directors

Total 2017

Fees and allowances in cash

Fees in blocked shares

Total 2018

1

Acting as the Lead Independent Director.

2

Includes fees for duties on the board of Singapore Group companies.

3

Term of office expired after the completion of the AGM of 20 April 2018 and did not stand for re-election.

4

Elected to Swiss Re’s Board of Directors at the AGM of 20 April 2018.

5

Includes fees received for duties on the board of US Group companies.

6

Term of office expired after the completion of the AGM of 21 April 2017 and did not stand for re-election.

7

Includes fees for duties on the board of Luxembourg Group companies.

8

Compensation for the members of the Board of Directors includes fixed fees (cash and shares) and minimal allowances. No sign-on or severance payments have been made.

9

Amounts are gross and include social security contributions of the Board member. Additionally and not included are company contributions to social security systems paid by Swiss Re in line with applicable laws which amounted to CHF 706 811 in 2017 and CHF 414 704 in 2018. For Board members domiciled outside of Switzerland, company social security contributions are refunded, if bilateral social security agreements between Switzerland and the country of domicile apply and provide for such refund.

Walter B. Kielholz, Chairman

4 166

2 328

1 547

3 875

Renato Fassbind, Vice Chairman, Chair Audit Committee1

825

496

330

826

Raymond K.F. Ch’ien, Member2

316

309

130

439

Mary Francis, former Member3

375

70

47

117

Karen Gavan, Member4, 5

n/a

204

80

284

Rajna Gibson Brandon, former Member3

317

66

43

109

C. Robert Henrikson, former Chair Compensation Committee3

462

95

63

158

Trevor Manuel, Member

341

211

140

351

Jay Ralph, Member

184

166

110

276

Joerg Reinhardt, Member

184

166

110

276

Carlos E. Represas, former Member6

197

0

0

0

Eileen Rominger, Member4

n/a

110

74

184

Philip K. Ryan, Chair Finance and Risk Committee5

878

654

240

894

Sir Paul Tucker, Member

315

195

130

325

Jacques de Vaucleroy, Chair Compensation Committee7

377

470

163

633

Susan L. Wagner, Chair Investment Committee

558

345

230

575

Larry Zimpleman, Member4

n/a

110

74

184

Total compensation for the reported financial years8, 9

9 495

5 995

3 511

9 506

(2) Individual Board compensation for the term of office between AGM 2018 and AGM 2019 (figures in CHF thousands)

The table below provides more detailed information on the compensation paid or payable to each Board member against the maximum aggregate amount of CHF 9 900 000 as approved by the AGM 2018:

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Members of the Board of Directors

Base fees

Audit Committee fees

Compensation Committee fees

Finance and Risk Committee fees

Investment Committee fees

Additional fees1

Total2

1

Including Vice Chairman or subsidiary fees.

2

Excluding company contributions to social security systems paid by Swiss Re in line with applicable laws.

3

Received subsidiary fees for the period from AGM 2017 to AGM 2018 in the equivalent of CHF 34 121, which were not included in the 2017 Compensation Report.

4

Including an amount of approximately CHF 15 000 for minimal benefits.

Walter B. Kielholz, Chairman

 

 

 

 

 

 

3 800

Renato Fassbind, Vice Chairman
Chair Audit Committee

225

425

50

 

 

125

825

Raymond K.F. Ch’ien, Member3

225

 

50

 

50

112

437

Karen Gavan, Member

225

75

 

 

 

112

412

Trevor Manuel, Member

225

75

 

 

50

 

350

Jay Ralph, Member

225

 

 

50

 

 

275

Joerg Reinhardt, Member

225

 

50

 

 

 

275

Eileen Rominger, Member

225

 

 

 

50

 

275

Philip K. Ryan, Member
Chair Finance and Risk Committee

225

75

 

300

 

294

894

Sir Paul Tucker, Member

225

 

 

50

50

 

325

Jacques de Vaucleroy, Member
Chair Compensation Committee

225

 

200

 

50

227

702

Susan L. Wagner, Member
Chair Investment Committee

225

 

 

50

300

 

575

Larry Zimpleman, Member

225

 

 

50

 

 

275

Total compensation for the term of office from AGM 2018 to AGM 20194

9 435

Shares held by members of the Board of Directors

The number of shares held by members of the Board of Directors as of 31 December were:

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Members of the Board of Directors

2017

2018

1

Term of office expired after the completion of the AGM of 20 April 2018 and did not stand for re-election.

2

Elected to Swiss Re’s Board of Directors at the AGM of 20 April 2018.

3

Shareholdings for 2018 include 2 500 American Depository Receipts (ADRs), equivalent to 625 shares.

Walter B. Kielholz, Chairman

399 987

407 523

Renato Fassbind, Vice Chairman, Chair Audit Committee

23 854

27 593

Raymond K.F. Ch’ien, Member

21 472

22 946

Mary Francis, former Member1

6 509

n/a

Karen Gavan, Member2, 3

n/a

1 512

Rajna Gibson Brandon, former Member1

23 194

n/a

C. Robert Henrikson, former Chair Compensation Committee1

13 248

n/a

Trevor Manuel, Member

3 972

5 558

Jay Ralph, Member

868

2 115

Joerg Reinhardt, Member

1 168

14 415

Eileen Rominger, Member2

n/a

813

Philip K. Ryan, Chair Finance and Risk Committee

8 892

11 611

Sir Paul Tucker, Member

2 530

4 004

Jacques de Vaucleroy, Chair Compensation Committee

868

2 706

Susan L. Wagner, Chair Investment Committee

8 754

11 360

Larry Zimpleman, Member2

n/a

813

Total

515 316

512 969

Loans to members of the Board of Directors

No loans were granted to current or former members of the Board in 2018 and no loans were outstanding as of 31 December 2018.