The Basler Insurance Group, Baloise, is facing a potential change in its voting rights restriction. The Swiss asset manager, zCapital, intends to abolish the existing voting and registration restriction of 2 percent at Baloise’s next general meeting on April 26, according to a recent announcement from the fund company, which specializes in governance and stewardship issues.
Described as a “relic from past times”, the initiative aims to strengthen shareholder democracy and balance the interests of shareholders and corporate management at the Basel-based insurer. The principle of “one share, one vote” is expected to apply to Baloise in the future, which should make the insurer’s shares more attractive to long-term investors, such as zCapital.
zCapital, which has been a shareholder of Baloise with its funds for 15 years, is pushing for this change. “The 2 percent restriction at Baloise is a relic from past times and contradicts the modern principles of corporate governance,” explains Hilmar Langensand, CEO of zCapital.
This new initiative at Baloise confirms the analysis that activist investors are on the rise in Swiss finance. This trend is not limited to aggressive hedge funds, but also includes large fund houses and institutions that are pushing for more shareholder democracy and better governance.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Europe |
| Countries | 🇨🇠|
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Hilmar Langensand |
| Companies | Fondsfirma, Basler Versicherungskonzern, finews.ch, Baloise, zCapital |
| Currencies | None |
| Securities | None |
