Swiss Re has announced its intention to increase its ordinary dividend to USD 7.35 per share, representing an 8% rise from the previous year. The proposal comes after the company reported solid financial results for 2024 and maintained a strong capital position, with a Group Swiss Solvency Test (SST) ratio of 257% as of January 1, 2025.
The announcement was made alongside the publication of Swiss Re's Annual Report 2024 and Sustainability Report 2024. These documents detail the company's financial performance, audited statements, and sustainability strategy. For the first time, the Sustainability Report includes a Climate Transition Plan that outlines Swiss Re's approach to achieving net zero greenhouse gas emissions by 2050 in accordance with new Swiss Climate Ordinance requirements.
"In 2024, SwissRe strengthened the foundations of its business while focusing on disciplined underwriting and cost efficiency. In the current heightened risk environment, our increased resilience allows us to continue to provide peak risk capacity and risk knowledge to our clients while creating value for our shareholders," said Jacques de Vaucleroy, Chairman of Swiss Re.
At its upcoming Annual General Meeting (AGM) scheduled for April 11, 2025 at Zurich's Hallenstadion, shareholders will vote on several proposals. These include electing Morten Hübbe and George Quinn as new non-executive and independent Board members for one-year terms. Hübbe previously served as Group CEO of Tryg from 2011 to 2023 and has held various leadership roles in insurance companies across Scandinavia and Denmark. Quinn was Group CFO at Zurich Insurance Group until this year and previously worked at Swiss Re in senior positions.
"We are delighted to attract two outstanding industry professionals for election to our Board of Directors. Morten Hübbe and George Quinn bring extensive insurance experience, strong expertise in our core business and proven strategic skills. I would also like to thank Philip Ryan and Sir Paul Tucker for their great dedication and strong contributions to Swiss Re's strategic development over the past years," said de Vaucleroy.
Other items on the AGM agenda include re-elections for current Board members—such as Jacques de Vaucleroy—and committee appointments including Deanna Ong, Jay Ralph, Joerg Reinhardt, with Hübbe proposed as a new member of the Compensation Committee. The Board is also seeking approval for compensation packages for directors and executives, extension of the capital band by two years, as well as consultative votes on both compensation reports and sustainability initiatives.
The invitation for shareholders is available online through Swiss Re’s official channels where voting results will be published following the meeting. Media representatives can attend or view a live broadcast by registering in advance.
Swiss Re’s full Annual Report 2024 is accessible via its Annual Report website, which also hosts its Sustainability Report; additional reporting documents are provided here.
Key dates on Swiss Re’s financial calendar include quarterly result releases set for May 16 (first quarter), August 14 (half-year), and November 14 (nine-month results).