The shareholders approved the new remuneration systems for the Board of Management and the Supervisory Board by 96.50 and 99.90 percent respectively. The new remuneration system for the Board of Management provides for a higher proportion of long-term variable remuneration, the amount of which is also dependent on the relative performance of Talanx’s shares compared to competitors. At the individual level, specific sustainability goals will be set for the first time. In addition, caps on remuneration and a malus and clawback mechanism (i.e. the ability to demand the repayment of variable remuneration after the event) have been built into the system. The remuneration for the Supervisory Board will be changed to a fixed amount that is in line with market conditions.
At the overall level, the remuneration system helps promote and implement the Group’s strategy by ensuring that ambitious, long-term performance targets that are aligned with the interests of investors and other key stakeholders are set.
Shareholders also voted by a very large majority in favour of the proposal to pay a dividend of EUR 1.50 per share, as in the previous year. As a result, the dividend has remained stable despite the global coronavirus pandemic. Talanx has either increased its dividend or at least kept it stable every year since the Company went public. Measured in terms of the average share price in 2020, the dividend yield is 4.5 percent.
Due to the restrictions imposed by the coronavirus pandemic, Talanx AG’s General Meeting was purely virtual for the second time in a row. Shareholders had the opportunity to submit questions up to a day before the meeting and when doing so could also refer to the presentation by the Chairman of the Board of Management, which was published in advance. All in all, a record number of 4,956 shareholders (previous year: 4,400) registered for the meeting. This corresponded to 91.54 (93.23) percent of the Company's voting share capital.
Talanx AG’s next annual general meeting is scheduled to take place on 5 May 2022.