Dr. Thomas Schmuckli new Chairman of the Board of Directors at Helvetia

After the Shareholders' Meeting of Helvetia Holding AG had been held without the physical participation of shareholders in the past two years, it was again possible to attend the 26th Ordinary Shareholders' Meeting on site at the Olma Messen St.Gallen. The 1810 shareholders present and entitled to vote (representing 64.8 percent of the share capital) approved the management report, the annual financial statements and the consolidated financial statements for 2021. They also discharged the Board of Directors and the Group Executive Management for their activities in the past financial year.

Secure retirement provision required for Switzerland

In her presidential address, outgoing BoD President Doris Russi Schurter addressed the need for reform in the pension system, which was both compelling and urgent due to demographic changes. "The challenge has long been known: We are living longer and longer. The baby boomers are retiring. That costs us more than we pay in. Also because we're getting almost no more interest," Doris Russi Schurter explained and immediately outlined a solution: "Save more, pay out a little less and a little longer in return, and work a little longer." In conclusion, she said: "Switzerland deserves a secure pension system.

Successful start to the new strategy period - dividend increased

Dr. Philipp Gmür, Group CEO of Helvetia, informed the Shareholders' Meeting about the 2021 financial year. Thanks to profitable growth, a substantial contribution from the Spanish company Caser and a very good investment result, Helvetia was able to significantly increase its profit and business volume. Helvetia also made a successful start to the new strategy period. helvetia 20.25 and is investing in customer convenience in particular, the report continues. Thus, the successful business model of Smile, the digital lifestyle brand in Switzerland among insurers, is now to be launched in European country markets as well. The launch will take place in Austria. The aim is to establish Smile as the leading online insurer in this market by the end of the strategy period.

The Annual General Meeting approved a dividend of CHF 5.50 per share (previous year: CHF 5.00). With this dividend increase of 10 percent, shareholders will benefit from the good financial year 2021 as well as from the successful acquisition of Caser and the associated strengthening of earnings power and dividend capacity.

Dr. Thomas Schmuckli elected as President

The shareholders elected Dr. Thomas Schmuckli as the new Chairman. Dr. Thomas Schmuckli has been a member and Vice Chairman of the Board of Directors of Helvetia Holding AG since 2018. In addition, he has led the Board of Directors of Helvetia's anchor shareholder, Patria Genossenschaft, since 2019. He will relinquish this mandate as of May 13, 2022. As announced, Doris Russi Schurter, the previous Chairwoman of the Board of Directors, did not stand for re-election due to a stroke of family fate. Dr. Thomas Schmuckli paid tribute to her services to Helvetia at the Shareholders' Meeting: "Doris Russi Schurter has played a decisive role in the further development of Helvetia into a European financial services provider. On behalf of the entire Board of Directors, I would like to thank Doris Russi Schurter most sincerely for her many years of service to Helvetia."

The shareholders also elected Luigi Lubelli as a new member of the Board of Directors. He lives in Spain and has many years of operational and strategic experience in the insurance industry in Italy and Spain, which are important country markets for Helvetia. Due to the term limit for members of the Board of Directors, Prof. Dr. Christoph Lechner did not stand for re-election.

Furthermore, the Annual General Meeting approved the total amounts of the fixed compensation of the members of the Board of Directors as well as the fixed and variable compensation of the Group Executive Committee.

Source and further information: Helvetia