Compensation disclosure and shareholdings 2018
Aggregate compensation of the Swiss Re Group
The aggregate compensation for the performance years 2017 and 2018 for all employees was as follows:
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Performance year 2017 |
Performance year 2018 |
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Category |
Type of plan |
Number of employees1 |
Values |
Number of employees1 |
Values |
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Fixed compensation |
Base salaries |
14 485 |
1 330 |
14 943 |
1 351 |
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Pensions, social security and benefits |
14 485 |
467 |
14 943 |
443 |
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Annual Performance Incentive |
Cash Annual Performance Incentive2 |
13 277 |
261 |
13 877 |
300 |
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|
Value Alignment Incentive2 |
429 |
27 |
529 |
32 |
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Long-term variable compensation |
Leadership Performance Plan |
377 |
50 |
404 |
50 |
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Other payments |
Severance payments2,3 |
320 |
25 |
439 |
28 |
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Sign-on payments |
121 |
5 |
94 |
4 |
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Total |
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|
2 165 |
|
2 208 |
As of 31 December 2018, the Group had 14 943 employees worldwide, compared to 14 485 employees at the end of 2017.
The total compensation of the Group for 2018 amounted to CHF 2 208 million (compared to CHF 2 165 million in 2017), whereof CHF 2 156 million has been or will be paid in cash (compared to CHF 2 112 million in 2017) and CHF 52 million has been granted in share-based awards (compared to CHF 53 million in 2017).
The value of all outstanding deferred compensation (determined for VAI at grant and for LPP using the fair value at grant) for all employees at 31 December 2018 amounted to CHF 270 million (compared to CHF 293 million in 2017) whereof CHF 132 million will be payable in cash (compared to CHF 155 million in 2017) and CHF 138 million in shares (compared to CHF 138 million in 2017).
In 2018 and 2017, a reduction of expenses amounting to CHF 3 million and CHF 5 million respectively, was recognised for compensation in previous financial years.
Aggregate compensation for Key Risk Takers
The aggregate compensation of the individuals that held a key risk-taking position during the performance years 2017 and 2018 was as follows:
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Performance year 2017 |
Performance year 2018 |
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Category |
Type of plan |
Number of employees |
Values |
Number of employees |
Values |
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Fixed compensation |
Base salaries |
180 |
67 |
181 |
67 |
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|
Pensions, social security and benefits |
180 |
29 |
181 |
24 |
||
Annual Performance Incentive |
Cash Annual Performance Incentive |
178 |
36 |
171 |
39 |
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Value Alignment Incentive |
164 |
19 |
160 |
21 |
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Long-term variable compensation |
Leadership Performance Plan |
152 |
37 |
164 |
38 |
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Other payments |
Severance payments1 |
1 |
1 |
3 |
0 |
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Sign-on payments |
9 |
1 |
9 |
1 |
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Total |
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190 |
|
190 |