Zurich-the chief deserves a 9.3 million Swiss francs

The Zurich Insurance Group has remunerated its chief Mario Greco in the year 2019, with something of the Prince than in the previous year. Greco earned 9.3 mill

Zurich-the chief deserves a 9.3 million Swiss francs

The Zurich Insurance Group has remunerated its chief Mario Greco in the year 2019, with something of the Prince than in the previous year. Greco earned 9.3 million Swiss francs, compared to 8.8 million in 2018, from the on Friday for the first time, only online published annual report. The General Assembly should on 1. April, on a smaller scale, and without subsequent Apéro send to be carried out.

The CEO pay is comprised of a slightly higher basic salary of 1.7 million, slightly higher short-term and long-term variable remuneration of 3.2 or 3.8 million, and other remuneration such as pension benefits in the amount of 0.6 million Swiss francs. In addition, Greco no shares were allotted and there are also no agreed remuneration in the contract, should Greco left the company.

Less reward for GL

The entire Executive Committee of Zurich who listened to 2019, including Mario Greco, a total of 14 members of which 10 during the whole year for the insurance group worked, received, according to the report, the total to 48.8 million Swiss francs as salary awarded. In the year 2018, the wage bill was slightly higher, at 49.2 million. At the time, worked from 14 members to 11 throughout the year in Zurich.

Chairman of the Board Michel Liès referred to, however, a total fee of 1.5 million Swiss francs. In the previous year he had painted 1.3 million of royalty-bearing, however, Liès, then assumed responsibility for the Bureau during the year. For the whole of the Board of Directors of the Zurich paid 4.7 million to 4.3 million in the previous year.

The group had a run-in 2019, with a net profit of US $ 4.15 billion, which is 16 percent more than in 2018. The tailwind provided by the global insurer has received from the good development on the financial markets and in comparison to the previous year, lower storm costs. In addition, Greco and his Team made further operational progress. The shareholders come for the umpteenth time in the enjoyment of a lush dividend payment.

Smaller GM without aperitif

The shareholders at the annual General meeting of 1. April, are, among other things, on the distribution. In addition, all of the current members of the Board of Directors will stand for re-election. The GM, however, because of the Coronavirus is different than usual on the stage.

Since the public health authorities Coronavirus larger meetings advise, I decided on Zurich, the AGM, this year in a smaller frame to carry out writes to the insurer in the communication of Friday. The GM will only to the statutory Assembly, with reduced participation, and without subsequent Apéro send limited. The shareholders will be asked, from a personal participation in sight and, instead, give to the independent proxy instructions to vote. (aru/sda)

Created: 06.03.2020, 18:59 PM

Updated Date: 06 March 2020, 18:00

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