Optimized printing

Annual Report 2018

Compensation highlights in 2018

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

78%

22%

21%

Group EC

31%

69%

72%

Group CEO

26%

74%

74%
Compenstation components (bar chart)

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

Download

USD millions (unless otherwise stated)

2016

2017

Change

2018

Change

1

Dividend payments are made in April of the following year. For 2018, an ordinary dividend of CHF 5.60 is proposed to the AGM 2019.

2

Disclosure includes all awards for a reporting year, ie the 2018 aggregated compensation values include the fair value of the Leadership Performance Plan (LPP) granted in April 2018. The Annual Performance Incentive (API) for 2018 for members of the Group EC is subject to approval by the shareholders at the AGM 2019.

3

Including Group CEO.

US GAAP net income

3 558

331

–91%

421

27%

EVM profit

1 399

–9

–

–693

–

Regular dividend payments (CHF)1

4.85

5.00

3%

5.60

12%

Financial strength rating (Standard & Poor’s)

AA–

AA–

 

AA–

 

Total equity

35 716

34 294

–4%

28 727

–16%

Regular staff worldwide

14 053

14 485

 

14 943

 

Aggregate compensation for all employees
(CHF millions)2

2 265

2 165

–4%

2 208

2%

Group EC members3

14

14

 

14

 

Aggregate Group EC compensation
(CHF thousands)2, 3

51 430

43 159

–16%

44 253

3%

Attribution of Group income to key stakeholders

Download

USD millions (unless otherwise stated)

2016

%

2017

%

2018

%

1

FY 2018 is estimated based on average year-to-date CHF/USD FX rates as of February 2019. 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 7 May 2018 and 15 February 2019 as part of the buy-back programme authorised at the AGM 2018. The total amount represents an estimate translated at the 2018 average CHF/USD FX rate.

Income before tax and variable compensation

4 773

100%

814

100%

863

100%

Variable compensation

466

10%

351

43%

373

43%

Income tax expense

749

16%

132

16%

69

8%

US GAAP net income attributable to shareholders

3 558

 

331

 

421

 

of which paid out as dividend1

1 559

33%

1 592

196%

1 692

196%

of which share buy-back

1 006

21%

1 032

127%

1 0222

118%

of which added to retained earnings within shareholders’ equity

993

20%

–2 293

 

–2 293