Compensation for the 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 2014 and 2015 and (2) the individual compensation for the members of the Board of Directors paid or payable for the term of office from AGM 2015 to AGM 2016.
(1) Individual Board compensation for the reported financial years 2014 and 2015 was:
Download |
CHF thousands |
Total 2014 |
Fees and allowances in cash |
Fees in blocked shares |
Total 2015 |
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|
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Walter B. Kielholz, Chairman |
4 895 |
2 866 |
1 906 |
4 772 |
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Renato Fassbind, Vice Chairman, Chairman of the Audit Committee1 |
789 |
525 |
350 |
875 |
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Jakob Baer, former Chairman of the Audit Committee2 |
217 |
n/a |
n/a |
n/a |
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Raymund Breu, former Member3 |
331 |
53 |
36 |
89 |
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Mathis Cabiallavetta, Member4 |
2 451 |
548 |
359 |
907 |
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Raymond K.F. Ch’ien, Member |
349 |
204 |
136 |
340 |
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John R. Coomber, former Member2 |
113 |
n/a |
n/a |
n/a |
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Mary Francis, Member5 |
444 |
319 |
136 |
455 |
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Rajna Gibson Brandon, Member |
332 |
190 |
126 |
316 |
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C. Robert Henrikson, Chairman of the Compensation Committee |
460 |
277 |
185 |
462 |
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Malcolm D. Knight, former Member2 |
95 |
n/a |
n/a |
n/a |
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Hans Ulrich Maerki, Member |
350 |
207 |
136 |
343 |
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Trevor Manuel, Member6 |
|
115 |
77 |
192 |
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Carlos E. Represas, Member7 |
379 |
271 |
107 |
378 |
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Jean-Pierre Roth, Member |
274 |
160 |
107 |
267 |
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Philip K. Ryan, Chairman of the Finance and Risk Committee6,7 |
|
540 |
168 |
708 |
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Susan L. Wagner, Chairman of the Investment Committee8 |
236 |
294 |
197 |
491 |
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Total compensation for the reported financial years9,10 |
11 715 |
6 569 |
4 026 |
10 595 |
(2) Individual Board compensation for the term of office between the AGM 2015 and the AGM 2016.
The table below provides more detailed information on the compensation paid or payable to each Board member against the maximum aggregate amount of CHF 10 600 000 as approved by the AGM 2015 (figures in CHF thousands):
Download |
Name, function |
Audit Committee |
Compensation Committee |
Finance and Risk Committee |
Investment Committee |
Base Fees |
Committee Fees |
Additional Fees1 |
Total2 |
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|
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Walter B. Kielholz, Chairman |
|
|
|
|
|
|
|
4 900 |
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Renato Fassbind, Vice Chairman |
C |
M |
|
|
225 |
500 |
175 |
900 |
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Mathis Cabiallavetta, Member |
|
|
M |
M |
225 |
100 |
|
325 |
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Raymond K.F. Ch’ien, Member |
M |
|
|
M |
225 |
125 |
|
350 |
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Mary Francis, Member |
M |
|
M |
|
225 |
125 |
115 |
465 |
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Rajna Gibson Brandon, Member |
|
|
M |
M |
225 |
100 |
|
325 |
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C. Robert Henrikson, Member |
|
C |
M |
|
225 |
250 |
|
475 |
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Hans Ulrich Maerki, Member |
M |
M |
|
|
225 |
125 |
|
350 |
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Trevor Manuel, Member |
|
|
|
M |
225 |
50 |
|
275 |
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Carlos E. Represas, Member |
|
M |
|
|
225 |
50 |
111 |
386 |
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Jean-Pierre Roth, Member |
|
|
|
M |
225 |
50 |
|
275 |
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Philip K. Ryan, Member |
M |
|
C |
|
225 |
375 |
288 |
888 |
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Susan L. Wagner, Member |
|
|
M |
C |
225 |
350 |
|
575 |
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Total compensation for the term of office from AGM 2015 to AGM 2016 |
|
|
|
10 5073 |
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:
Download |
Members of the Board of Directors |
2014 |
2015 |
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|
||||||||
Walter B. Kielholz, Chairman |
425 710 |
447 241 |
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Renato Fassbind, Vice Chairman and Chairman of the Audit Committee |
11 889 |
15 844 |
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Raymund Breu, former Member1 |
37 764 |
n/a |
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Mathis Cabiallavetta, Member |
92 287 |
71 346 |
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Raymond K.F. Ch’ien, Member |
16 921 |
18 459 |
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Mary Francis, Member |
2 791 |
4 329 |
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Rajna Gibson Brandon, Member |
27 787 |
20 216 |
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C. Robert Henrikson, Chairman of the Compensation Committee |
6 808 |
8 896 |
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Hans Ulrich Maerki, Member |
27 431 |
28 969 |
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Trevor Manuel, Member2 |
|
868 |
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Carlos E. Represas, Member |
10 372 |
11 581 |
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Jean-Pierre Roth, Member |
8 234 |
8 443 |
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Philip K. Ryan, Chairman of the Finance and Risk Committee2 |
|
3 394 |
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Susan L. Wagner, Chairman of the Investment Committee3 |
1 267 |
3 485 |
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Total |
669 261 |
643 071 |
Vested options held by members of the Board of Directors
Swiss Re does not grant employee stock options to members of the Board of Directors. The stock options shown in the table below were awarded at a time when the recipients were still members of Swiss Re’s executive management. The following table reflects vested options held by members of the Board of Directors as of 31 December:
Download |
Member of the Board of Directors |
2014 |
2015 |
Weighted average strike price in CHF |
74.34 |
n/a |
Walter B. Kielholz, Chairman |
20 000 |
0 |
Total |
20 000 |
0 |
The underlying exercise prices for the outstanding option series have been adjusted for special dividend payouts. The vested options held by members of the Board of Directors expired in 2015.
Loans to members of the Board of Directors
No loans were granted to current or former members of the Board in 2015 and no loans were outstanding as of 31 December 2015.
Related parties transactions
Disclosure on compensation decisions in 2015 covers members of the Group EC and the Board of Directors as indicated, and for both include related parties to the extent applicable. Such related parties cover spouses, partners, children and other dependents or closely linked persons. In 2015 no compensation was paid to any related party.
Compensation for former members of governing bodies
During 2015, payments in the total amount of CHF 0.2 million were made to six former members of the Group EC. This amount is made up of company contributions to social security paid by Swiss Re in line with applicable laws, benefits in the context of the outstanding mortgages and loans not at market rates above, risk benefits as well as company commitments for tax related services.