Compensation highlights in 2017

Pay for performance

The Compensation Committee ensures that Group EC compensation is linked to the business performance of Swiss Re by delivering a substantial portion of compensation in the form of variable and performance-related incentives.

Download

 

Base salary

Variable/performance-related

of which deferred

All employees

80%

20%

23%

Group EC

33%

67%

73%

Group CEO

28%

72%

78%
Total compensation (bar chart)

The Compensation Committee monitors how compensation is aligned with specific business metrics, including US GAAP net income and EVM profit.

Download

USDm (unless otherwise stated)

2015

2016

change

2017

change

1

Dividend payments are made in April of the following year. For 2017 an ordinary dividend of CHF 5.00 is proposed to the AGM 2018.

2

Disclosure includes all awards for a reporting year, ie the 2017 aggregated compensation values include the fair value of the Leadership Performance Plan (LPP) granted in April 2017. The Annual Performance Incentive (API) for 2017 for members of the Group EC is subject to approval by the shareholders at the AGM 2018.

3

Including Group CEO.

US GAAP net income

4 597

3 558

–23%

331

–91%

EVM profit

480

1 399

191%

–9

—

Regular dividend payments (CHF)1

4.60

4.85

5%

5.00

3%

Financial Strength Rating (Standard & Poor’s)

AA–

AA–

 

AA–

 

Total equity

33 606

35 716

6%

34 294

–4%

Regular staff worldwide

12 767

14 053

 

14 485

 

Aggregate compensation for all employees (CHF millions)2

2 213

2 265

2%

2 165

–4%

Group EC members3

12

14

 

14

 

Aggregate Group EC compensation (CHF thousands)2, 3

47 360

51 430

9%

43 159

–16%

Attribution of Group income to key stakeholders

Download

USDm (unless otherwise stated)

2015

%

2016

%

2017

%

1

FY 2017 is estimated based on average year-to-date CHF/USD FX rates as of February 2018. The dividend is subject to AGM approval and the amount depends on the final number of dividend eligible shares and FX rates upon dividend payout.

2

Includes shares bought back between 3 November 2017 and 16 February 2018 as part of the buy-back programme authorised at the AGM 2017. The total amount represents an estimate translated at the 2017 average CHF/USD exchange rate.

Income before tax and variable compensation

5 758

100%

4 773

100%

814

100%

Variable Compensation

510

9%

466

10%

351

43%

Income tax expense

651

11%

749

16%

132

16%

US GAAP net income attributable to shareholders

4 597

 

3 558

 

331

 

of which paid out as dividend1

1 561

27%

1 559

33%

1 650

203%

of which share buy-back

1 018

18%

1 006

21%

1 0162

125%

of which added to retained earnings within shareholders’ equity

2 018

35%

993

20%

–2 335