Zurich shareholders approve dividend of CHF 17 and elect David Nish and Jeffrey L. Hayman to the Board of Directors
At today’s Annual General Meeting Zurich’s shareholders approved the dividend of CHF 17.00 and elected David Nish and Jeffrey L. Hayman to the Board of Directors. Shareholders approved all agenda items.
The Annual General Meeting of Zurich Insurance Group Ltd (Zurich) today approved an unchanged dividend of CHF 17.00 per registered share for the 2015 financial year. This year’s dividend payment will again be paid from the capital contribution reserve and will be exempt from Swiss withholding tax. The dividend will be paid starting April 5, 2016.
In an advisory vote, shareholders voted in favor of the Remuneration report 2015 with 87.61%. They also approved the maximum total remuneration of the Board of Directors in the amount of CHF 4.7 million for the period until the next Annual General Meeting with 96.25%. Furthermore, they voted in favor of the maximum total remuneration of the Group Executive Committee of CHF 74.3 million for the financial year 2017 with 90.22%. The remuneration reports will continue to be presented to shareholders in an advisory vote in the years to come.
The shareholders elected David Nish with 99.54% and Jeffrey L. Hayman with 99.48% to the Board of Directors. They also re-elected Tom de Swaan as Chairman for a further term of office of one year.
Thomas K. Escher, Rafael del Pino and Don Nicolaisen didn’t stand for re-election. All other members of the Board of Directors were re-elected for a further term of office of one year.
Tom de Swaan and Christoph Franz were re-elected for another one year term as members of the Remuneration Committee. In addition, Fred Kindle and Kishore Mahbubani were elected as new members of the committee.
PricewaterhouseCoopers AG, Zurich, was re-elected as auditor for the 2016 financial year.
The Annual General Meeting also approved all other agenda items. There were 2,028 shareholders (incl. proxies), representing 68,654,138 registered shares or 65.41% of the shares entitled to vote, at the meeting in Zurich.
The detailed results of all votes will be published on www.zurich.com on March 31, 2016.
In its constituent meeting held after the Annual General Meeting, the Board of Directors re-elected Fred Kindle as Vice-Chairman. Furthermore, it was decided to broaden the scope of the Risk Committee and the Governance and Nominations Committee. The two bodies are renamed Risk and Investment Committee and Governance, Nominations and Corporate Responsibility Committee.
The Board of Directors and the committees now consist of the following members:
- Tom de Swaan, Chairman
- Fred Kindle, Vice Chairman
- Joan Amble
- Susan Bies
- Dame Alison Carnwath
- Christoph Franz
- Jeffrey L. Hayman
- Monica Mächler
- Kishore Mahbubani
- David Nish
Remuneration Committee
- Christoph Franz, Chairperson
- Tom de Swaan
- Fred Kindle
- Kishore Mahbubani
Audit Committee
- Joan Amble, Chairperson
- Susan Bies
- Monica Mächler
- David Nish
Risk and Investment Committee
- Susan Bies, Chairperson
- Joan Amble
- Dame Alison Carnwath
- Jeffrey L. Hayman
- Monica Mächler
- Kishore Mahbubani
Governance, Nominations and Corporate Responsibility Committee
- Tom de Swaan, Chairman
- Dame Alison Carnwath
- Christoph Franz
- Fred Kindle
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Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With more than 55,000 employees, it provides a wide range of general insurance and life insurance products and services. Zurich’s customers include individuals, small businesses, and mid-sized and large companies, including multinational corporations, in more than 170 countries. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com.