Description of role and responsibilities

• Is supported by the Compensation Committee in establishing and reviewing the Company’s compensation strategy and guidelines and performance criteria as well as in preparing the proposals to the AGM regarding the compensation of the members of the Board of Directors and the Group EC.
• Further details can be found in the Corporate Governance section.

Description of role and responsibilities

• Consists of at least three independent members of the Board of Directors, and each member of the Compensation Committee is elected individually at the AGM for a term of office until completion of the next AGM.
• Assesses the individual performance of the Group EC including the Group CEO and periodically review the effectiveness of the performance management process.
• Is governed by a Charter approved by the Board of Directors, which defines the purpose, composition and procedural rules of the Compensation Committee, including its responsibilities and authorities for making proposals and decisions related to compensation of the members of the Board of Directors and the Group EC.
• Is responsible for making recommendations and overseeing the design and implementation of compensation principles, policy, framework, plans and disclosure.
• Reviews compensation principles, policies and share-based plans annually to ensure that they remain in line with Swiss Re’s objectives and strategy, shareholders’ interests, and legal and regulatory requirements.
• Further details can be found in the Corporate Governance section.

Description of role and responsibilities

• The Group CEO, the Group Chief Operating Officer and the Chief Human Resources Officer participate in the Compensation Committee meetings.
• Other members of senior management may attend as deemed appropriate by the Compensation Committee and upon invitation by the Chair of the Compensation Committee.
• No individual may attend any part of a meeting where their own compensation is discussed.

Description of role and responsibilities

• The Head Reward serves as the Secretary to the Compensation Committee and attends its meetings (apart from the executive sessions).

Description of role and responsibilities

• Mercer provides information about remuneration trends, market benchmarking and advice on executive compensation issues.
• Niederer Kraft & Frey AG provides legal advice, mainly about specific aspects of compliance and disclosure matters regarding compensation.

These advisors are retained by the Compensation Committee. They provide the Compensation Committee with an external perspective and from time to time provide other services to Swiss Re.