Swiss Re vows to promote women in leadership roles, 30% at board level

Global reinsurer  Swiss Re has formally committed to increasing the female representation at board level to at least 30% within a year, in a bid to bridge the gender leadership gap.

In line with its diversity, equity and inclusion strategy, the board of directors of Swiss Re placed a particular importance on increasing the proportion of women in leadership positions at its April 13 annual general meeting (AGM).

The reinsurer’s board of directors currently consists of 12 members, three of them are women. It is aiming to achieve the 30% target by the 2023 AGM.

Deanna Ong (pictured) is the latest to be elected as a new member of the Compensation Committee.

The company’s shareholders have approved the re-election of Sergio Ermotti as chairman of the board as well as all other proposed members for a one-year term of office at the AGM.

Renato Fassbind has been re-appointed as vice chairman and as lead independent director.

Raymond K.F. Ch’ien did not stand for re-election and has stepped down as a member of the board of directors.

Swiss Re’s shareholders have approved all proposals put forward by the board, including the distribution of an ordinary dividend of CHF 5.90 per share for the 2021 financial year – at the same level as the previous year’s distribution. The dividends will be paid out of voluntary profit reserves.

Ermotti said: “When I took office a year ago, I emphasised that Swiss Re needed to strengthen its resilience to meet the expectations of investors, clients and employees. Over the last year, this has been our top priority, focusing on high-quality portfolio and margins in our Reinsurance business, the successful turnaround of Corporate Solutions,and the continued growth at iptiQ.

“We have achieved important interim goals on our way to sustainably strengthen Swiss Re’s long-term earnings power, and I am convinced that we can improve our performance even further in the future.”

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