Swiss Re will raise its dividend sharply this year and also invest in another share buyback. Christian Mumenthaler, the company’s CEO, has seen his pay increase handsomely last year.
Swiss Re, the world’s second-largest reinsurer after Munich Re, plans to increase the dividend for 2018 to 5.60 francs per share from 5 francs per share in 2017, the company said in a statement on Thursday. At the annual general meeting in April, shareholders will also vote about a new round of share buybacks worth as much as 2 billion Swiss francs ($1.99 billion).
CEO Earned More, Chairman Less in 2018
Swiss Re also increased the total compensation it awarded its chief executive in 2018. Christian Mumenthaler, who had joined the company twenty years ago, received a total of 5.81 million francs last year, up from 5.23 million a year ago.
Chairman Walter Kielholz will stand for reelection at the annual general meeting. His compensation declined slightly last year, to 3.88 million francs from 4.17 million in 2017.
