Compensation for 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 2018 and 2019 and (2) the individual compensation for the members of the Board of Directors paid or payable for the term of office from AGM 2019 to AGM 2020.

(1) Individual Board compensation for the reported financial years 2018 and 2019 (figures in CHF thousands; foreign currency conversions calculated using December 2019 year-to-date FX rates for 2019 figures and December 2018 year-to-date FX rates for 2018 figures, where relevant)

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Members of the Board of Directors

Total 2018

Fees and allowances in cash

Fees in blocked shares

Total 2019

1

Includes fees for duties on the board of Singapore Group companies.

2

Term of office expired after the completion of the AGM of 20 April 2018 and did not stand for re-election.

3

Includes fees received for duties on the board of US Group companies.

4

Includes fees for duties on the board of Luxembourg Group companies.

5

Includes fees for duties on the board of ReAssure Group companies.

6

Compensation for the members of the Board of Directors includes fixed fees (cash and shares) and minimal allowances. No sign-on or severance payments have been made.

7

Amounts are gross before deduction of social security contributions of the Board member. Additionally and not included are company contributions to social security systems paid by Swiss Re in line with applicable laws which amounted to CHF 414 704 in 2018 and CHF 392 690 in 2019. For Board members domiciled outside of Switzerland, company social security contributions are refunded, if bilateral social security agreements between Switzerland and the country of domicile apply and provide for such refund.

Walter B. Kielholz, Chairman

3 875

2 288

1 520

3 808

Renato Fassbind, Vice Chairman, Lead Independent Director, Chair Audit and Nomination Committees

826

496

330

826

Raymond K.F. Ch’ien, member1

439

311

130

441

Mary Francis, former member2

117

0

0

0

Karen Gavan, member3

284

313

120

433

Rajna Gibson Brandon, former member2

109

0

0

0

C. Robert Henrikson, former member, former Chair Compensation Committee2

158

0

0

0

Trevor Manuel, member

351

211

140

351

Jay Ralph, member

276

166

110

276

Joerg Reinhardt, member

276

178

118

296

Eileen Rominger, member

184

165

110

275

Philip K. Ryan, member, Chair Finance and Risk Committee3

894

658

240

898

Sir Paul Tucker, member

325

195

130

325

Jacques de Vaucleroy, member, Chair Compensation Committee4

633

520

198

718

Susan L. Wagner, member, Chair Investment Committee

575

357

238

595

Larry Zimpleman, member5

184

186

110

296

Total compensation for the reported financial years6, 7

9 506

6 044

3 494

9 538

(2) Individual Board compensation for the term of office between AGM 2019 and AGM 2020 (figures in CHF thousands; foreign currency conversions calculated using December 2019 year-to-date FX rates, where relevant)

The table below provides more detailed information on the compensation paid or payable to each Board member against the maximum aggregate amount of CHF 9.9 million, as approved by the AGM 2019:

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Members of the Board of Directors

Base fees

Audit Committee fees

Compensation Committee fees

Finance and Risk Committee fees

Investment Committee fees

Nomination Committee fees

Additional fees1

Total2

1

Including Vice Chairman or subsidiary fees (converted to CHF at 2019 average exchange rates where applicable).

2

Excluding company contributions to social security systems paid by Swiss Re in line with applicable laws.

3

Including an amount of approximately CHF 15 000 for minimal benefits.

Walter B. Kielholz, Chairman

 

 

 

 

 

 

 

3 800

Renato Fassbind, Vice Chairman, Lead Independent Director, Chair Audit and Nomination Committees

225

425

50

 

 

 

125

825

Raymond K.F. Ch’ien, member

225

 

50

 

50

 

114

439

Karen Gavan, member

225

75

 

 

 

 

139

439

Trevor Manuel, member

225

75

 

 

50

 

 

350

Jay Ralph, member

225

 

 

50

 

 

 

275

Joerg Reinhardt, member

225

 

50

 

 

30

 

305

Eileen Rominger, member

225

 

 

 

50

 

 

275

Philip K. Ryan, member, Chair Finance and Risk Committee

225

75

 

300

 

 

299

899

Sir Paul Tucker, member

225

 

 

50

50

 

 

325

Jacques de Vaucleroy, member, Chair Compensation Committee

225

 

200

 

50

30

223

728

Susan L. Wagner, member, Chair Investment Committee

225

 

 

50

300

30

 

605

Larry Zimpleman, member

225

 

 

50

 

 

50

325

Total compensation for the term of office from AGM 2019 to AGM 20203

9 605

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:

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Members of the Board of Directors

2018

2019

1

Shareholdings for 2018 and 2019 include 2 500 American Depository Receipts (ADRs), equivalent to 625 shares.

Walter B. Kielholz, Chairman

407 523

423 878

Renato Fassbind, Vice Chairman, Lead Independent Director, Chair Audit and Nomination Committees

27 593

31 143

Raymond K.F. Ch’ien, member

22 946

21 345

Karen Gavan, member1

1 512

2 803

Trevor Manuel, member

5 558

7 065

Jay Ralph, member

2 115

3 299

Joerg Reinhardt, member

14 415

25 684

Eileen Rominger, member

813

1 997

Philip K. Ryan, member, Chair Finance and Risk Committee

11 611

15 693

Sir Paul Tucker, member

4 004

5 403

Jacques de Vaucleroy, member, Chair Compensation Committee

2 706

4 835

Susan L. Wagner, member, Chair Investment Committee

11 360

13 920

Larry Zimpleman, member

813

1 997

Total

512 969

559 062

Loans to members of the Board of Directors

No loans were granted to current or former members of the Board in 2019 and no loans were outstanding as of 31 December 2019.