Remuneration paid to SB members is not linked to the financial performance of a.s.r. and none of the SB members own a.s.r. shares. SB members are entitled to the following remuneration, as adopted by the 2023 AGM:
A base fee for each SB Member and the Chair;
A committee fee for each Member and Chair of a committee of the SB.
In determining the level of remuneration, the responsibilities and time commitment of an SB of a listed financial institution are taken into account as stated in the Dutch Corporate Governance Code, including with respect to:
Revised and increased legislation and regulations;
Fundamental changes in the nature and complexity of the business and governance;
a.s.r.’s profile, in which organic growth, mergers, acquisitions and collaborations in complex insurance areas are actively explored and/or pursued.
| (in €) | 20231 | 2022 |
|---|---|---|
| Supervisory Board | | |
| Chair | 75,000 | 50,000 |
| Member | 50,000 | 35,000 |
| Audit & Risk Committee | | |
| Chair | 15,000 | 15,000 |
| Member | 10,000 | 10,000 |
| Remuneration Committee | | |
| Chair | 10,000 | 10,000 |
| Member | 5,000 | 5,000 |
| Nomination & ESG Committee | | |
| Chair | 10,000 | 10,000 |
| Member | 5,000 | 5,000 |
- 1 Change in SB fees applicable per 1 July 2023.
The remuneration level within the reference group used is also taken into consideration. The reference group for the SB is the same as the reference group for the EB.
An overview of the remuneration for the SB is shown in the table.
SB Members who also serve on the SB of ASR Basis / Aanvullende Ziektekostenverzekeringen N.V. or on the SB of ASR IORP receive an additional € 6,000 per annum. No additional fees are paid to EB Members who are also members of the SB of a Group company.
Remuneration of Supervisory Board members in 2023
The remuneration of current and former members of the SB is in accordance with the remuneration policy. Neither a.s.r. nor any Group company provides loans, advances or guarantees on behalf of an SB member.
A basic principle of a.s.r.’s current remuneration policy (both for the EB and the SB) is that remuneration should be at most around the median for the reference group. The annual benchmark study commissioned by the SB in 2022 showed that the remuneration levels of the SB were significantly below the median for the reference group. Furthermore, the responsibilities and time commitment of SB members have become considerably more intense and complex in recent years. Also, a.s.r. has experienced important developments and changes in the nature and complexity of the business and governance. a.s.r. has also strengthened itself in recent years with targeted acquisitions, including the Aegon transaction. These continuing developments require solid knowledge and experience at SB level, as well as an increased time commitment. At the 2023 AGM, it was therefore proposed to adjust the remuneration of the SB as set out in the above table, which proposal was adopted by the AGM with 97.8% votes in favour.
| (in € thousands) | Fixed remuneration | |||
|---|---|---|---|---|
| | Base salary | Fees | Total remuneration | Fixed portion of the total remuneration |
| Joop Wijn1 | 63 | 15 | 78 | 100% |
| Herman Hintzen2 | 43 | 15 | 58 | 100% |
| Sonja Barendregt3 | 43 | 21 | 64 | 100% |
| Gisella van Vollenhoven4 | 43 | 26 | 69 | 100% |
| Gerard van Olphen5 | 43 | 15 | 58 | 100% |
| Daniëlle Jansen Heijtmajer6 | 25 | 3 | 28 | 100% |
| Lard Friese7 | 25 | 5 | 30 | 100% |
| Total | 283 | 100 | 382 | 100% |
- 1 Fees in 2023 are amounts received as Chair of the N&ESG Committee (€10,000) and as Member of the Renumeration Committee (€5,000). Fees in 2022 are amounts received as Chair of the N&ESG Committee (€ 10,000) and as Member of the Remuneration Committee (€ 5,000).
- 2 Fees in 2023 are amounts received as Member of the A&R Committee (€ 10,000) and the Renumeration Committee (€ 5,000). Fees in 2022 are amounts received as Member of the A&R Committee (€ 10,000) and the Remuneration Committee (€ 5,000).
- 3 Fees in 2023 are amounts received as Chair of the A&R Committee (€ 15,000) and as Member of the SB of ASR Basis/Aanvullende Ziektekostenverzekeringen N.V. (€ 6,000). Fees in 2022 are amounts received as Chair of the A&R Committee (€ 15,000) and as Member of the SB of ASR Basis/Aanvullende Ziektekostenverzekeringen N.V. (€ 5,000).
- 4 Fees in 2023 are amounts received as Chair of the Remuneration Committee (€ 10,000), as Member of the N&ESG Committee (€ 5,000), as Member of the SB of ASR Basis/Aanvullende Ziektekostenverzekeringen N.V. (€ 6,000), and as Member of the SB of PPI (€ 5,000). Fees in 2022 are amounts received as Chair of the Remuneration Committee (€ 10,000), as Member of the N&ESG Committee (€ 5,000), as Member of the SB of ASR Basis/Aanvullende Ziektekostenverzekeringen N.V. (€ 5,000), and a partial year as Member of the SB of PPI (€ 2,500).
- 5 Fees in 2023 are amounts received as Member of the A&R Committee (€ 10,000) and as Member of the N&ESG Committee (€ 5,000). Fees in 2022 are amounts received as Member of the A&R Committee (€ 10,000) and as Member of the N&ESG Committee (€ 5,000).
- 6 Daniëlle Jansen Heijtmajer was appointed to the SB on 4 July 2023. Fees in 2023 include amounts received as Member of the N&ESG Committee (€ 2,500, reflecting a partial year).
- 7 Lard Friese was appointed to the SB on 04 July 2023. Fees in 2023 include amounts received as Member of the A&R Committee (€ 5,000, reflecting a partial year).
| (in € thousands) | Fixed remuneration | |||
|---|---|---|---|---|
| | Base salary | Fees | Total remuneration | Fixed portion of the total remuneration |
| Joop Wijn1 | 50 | 15 | 65 | 100% |
| Herman Hintzen2 | 35 | 15 | 50 | 100% |
| Sonja Barendregt3 | 35 | 20 | 55 | 100% |
| Gisella van Vollenhoven4 | 35 | 23 | 58 | 100% |
| Gerard van Olphen5 | 35 | 15 | 50 | 100% |
| Daniëlle Jansen Heijtmajer | - | - | - | n/a |
| Lard Friese | - | - | - | n/a |
| Total | 190 | 88 | 278 | 100% |
- 1 Fees in 2023 are amounts received as Chair of the N&ESG Committee (€ 10,000) and as Member of the Renumeration Committee (€ 5,000). Fees in 2022 are amounts received as Chair of the N&ESG Committee (€ 10,000) and as Member of the Remuneration Committee (€ 5,000).
- 2 Fees in 2023 are amounts received as Member of the A&R Committee (€ 10,000) and the Renumeration Committee (€ 5,000). Fees in 2022 are amounts received as Member of the A&R Committee (€ 10,000) and the Remuneration Committee (€ 5,000).
- 3 Fees in 2023 are amounts received as Chair of the A&R Committee (€ 15,000) and as Member of the SB of ASR Basis/Aanvullende Ziektekostenverzekeringen N.V. (€ 6,000). Fees in 2022 are amounts received as Chair of the A&R Committee (€ 15,000) and as Member of the SB of ASR Basis/Aanvullende Ziektekostenverzekeringen N.V. (€ 5,000).
- 4 Fees in 2023 are amounts received as Chair of the Remuneration Committee (€ 10,000), as Member of the N&ESG Committee (€ 5,000), as Member of the SB of ASR Basis/Aanvullende Ziektekostenverzekeringen N.V. (€ 6,000), and as Member of the SB of PPI (€ 5,000). Fees in 2022 are amounts received as Chair of the Remuneration Committee (€ 10,000), as Member of the N&ESG Committee (€ 5,000), as Member of the SB of ASR Basis/Aanvullende Ziektekostenverzekeringen N.V. (€ 5,000), and a partial year as Member of the SB of PPI (€ 2,500).
- 5 Fees in 2023 are amounts received as Member of the A&R Committee (€ 10,000) and as Member of the N&ESG Committee (€ 5,000). Fees in 2022 are amounts received as Member of the A&R Committee (€ 10,000) and as Member of the N&ESG Committee (€ 5,000).