Swiss National Insurance Company's Ordinary General Meeting

19 mei 2008Corporate news announcement processed and transmitted by Hugin ASA. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- -------------- On the occasion of the company's 125th anniversary and in celebration thereof, the Ordinary General Meeting of Swiss National Insurance Company, chaired by Dr René Theler, Chairman of the Board of Directors, was held today in Basel in a festive atmosphere. The shareholders approved the 2007 annual report and the annual financial statements. The General Meeting agreed to the proposal put forward by the Board of Directors to increase the distribution of profits in the form of dividends and par-value repayments. In addition, the shareholders supported the proposal to generate authorised share capital of up to CHF 2.8 million. Stephan A. J. Bachmann was newly elected to the Board of Directors. The 292 shareholders present represented 274 396 registered shares. A total of 399 470 shares were represented including proxy shares. This corresponds to 38.04% of shareholder votes. Reduction of capital by par-value repayments The General Meeting agreed on a total dividend of CHF 30 per share. This will be in the form of a dividend payment of CHF 18 and a par-value repayment of CHF 12 per share. Share capital will therefore be reduced from CHF 21 million to CHF 12.6 million as a result. A par-value repayment is particularly advantageous for individuals who personally own shares and are subject to tax in Switzerland. Despite the par-value repayment, the substantial allocation of CHF 20 million to free reserves will strengthen shareholders' equity. Creation of authorised share capital With this strategy, Nationale Suisse is pursuing focused business development based on organic growth. Part of this strategy is also to systematically identify and realise acquisition opportunities. In order to be able to access the requisite capital quickly if needed, the Board of Directors proposed the creation of authorised share capital to today's General Meeting. As is normal in such cases, the Board of Directors can limit or exclude shareholders' subscription rights. However, the conditions governing exclusion are very tight, and whether or not this option is exercised depends on the specific requirements of the company's growth strategy. This proposal, which makes possible an increase in share capital of up to 350 000 new registered shares in two years, was approved. Corporate governance Dr René Theler was re-elected to the Board of Directors for a further two-year period. Felix Stählin resigned from his position at today's General Meeting. In addition, Stephan A. J. Bachmann was newly elected to the Board of Directors of the Swiss National Insurance Company for a period of four years, with effect from 1 July 2008. He was a partner at Pricewaterhouse-Coopers, where he was responsible for the auditing area and was a member of the assurance core team. Mr Bachmann is expected to take over as chairman of the Audit Committee. Dr Theler informed the General Meeting that, at its last meeting, the Board of Directors decided to create a Nomination and Compensation Committee; this is part of the drive to continually improve corporate governance. The newly created Committee is made up of members of the Board of Directors: Dr Walter Grüebler (chairman), Dr Peter Kämmerer and Peter Merian. Nationale Suisse celebrates its 125th anniversary Nationale Suisse can look back on 125 years of company history in 2008. To mark this occasion, the General Meeting took on a more festive form. In its anniversary year, the insurance company is organising a large number of events and festivities for its shareholders, staff, clients and the general public. To further mark its anniversary, Nationale Suisse is supporting the nationwide UNICEF campaign week "Help by playing", during which fund-raising campaigns will be carried out in more than 27 Swiss cities. The highlight of the campaign week will be a display of lights in Basel created by internationally renowned artist Valerio Festi. Brief profile Nationale Suisse is an innovative, The headquarters of Swiss international Swiss insurer providing National Insurance Company first-rate risk and pension solutions is in Basel. Nationale and tailored niche products. The Group Suisse is listed on the SWX has gross premiums of CHF 1.87 billion, Swiss Exchange (NATN). On 31 one third of which come from their December 2007 the Group subsidiaries in Germany, Belgium, Italy employed 1,851 persons and Spain. (1,721 FTEs). Downloads Disclaimer You can access this media release on our Swiss National Insurance website www.nationalesuisse.ch under Company wishes to point out Medien/Medienmitteilung. that any forward-looking statements in this report are based on projections, estimates and assumptions. The influence of uncertain and unforeseeable circumstances and certain risks may mean that actual performance deviates significantly from our expectations. Information Sabrina Pagnetti Nationale Suisse Head of Information & Communication Steinengraben 41 Tel. +41 61 275 22 33 4003 Basel Fax +41 61 275 22 21 www.nationalesuisse.ch sabrina.pagnetti@nationalesuisse.ch Important dates Publication of Semi-Annual Report 22.09.2008 --- End of Message --- Nationale Suisse Steinengraben 41 Basel WKN: 1081197; ISIN: CH0010811971; Index: SMCI, SPI, SPIEX; Listed: Main Market in SWX Swiss Exchange;