Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 1, 2014

 

 

ALLIED WORLD ASSURANCE COMPANY HOLDINGS, AG

(Exact Name of Registrant as Specified in Charter)

 

 

 

Switzerland   001-32938   98-0681223

(State or Other Jurisdiction

of Incorporation)

  (Commission File Number)  

(I.R.S. Employer

Identification No.)

Lindenstrasse 8

6340 Baar

Zug, Switzerland

(Address of Principal Executive Offices and Zip Code)

Registrant’s telephone number, including area code: 41-41-768-1080

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


Item 5.03.  Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

Allied World Assurance Company Holdings, AG (the “Company”) held its 2014 Annual General Meeting of Shareholders on May 1, 2014 (the “2014 Annual Shareholder Meeting”). At the 2014 Annual Shareholder Meeting, the Company’s shareholders approved the proposals listed in Item 5.07. The amendments to the Company’s Articles of Association (the “Articles of Association”) to (1) elect annually (i) each director individually, (ii) the Chairman of the Company’s board of directors (the “Board”), (iii) the members of the Compensation Committee, and (iv) the independent proxy (Proposal 1); (2) effect a 3-for-1 split of the Company’s common shares (Proposal 12); and (3) extend the Board’s ability to issue authorized share capital until May 1, 2016 (Proposal 13) are effective immediately and are reflected in the Company’s amended and restated Articles of Association attached hereto as Exhibit 3.1 and incorporated herein by reference. The amendments to the Articles of Association to reduce the Company’s share capital through the cancellation of a portion of shares held in treasury (Proposal 10) will become effective upon the registration of such amendment with the Commercial Register in the Canton of Zug, Switzerland, at which time the Company will file amended and restated Articles of Association.

Item 5.07.  Submission of Matters to a Vote of Security Holders.

The Company’s shareholders considered the following proposals, each of which is described in greater detail in the Company’s definitive proxy statement dated March 14, 2014.

Proposal 1          Approval of Amendments to the Articles of Association for Annual Elections

The Company’s shareholders approved amendments to the Articles of Association to elect annually (i) each director individually, (ii) the Chairman of the Board, (iii) the members of the Compensation Committee and (iv) the independent proxy.

 

        For        

           Against                    Abstain                    Broker Non-Votes        
26,199,815    893    144,808    2,140,201

Proposal 2          Election of Directors

The Company’s shareholders elected the following directors to hold office until the Company’s Annual Shareholder Meeting in 2015:

 

             For                    Against                    Abstain                  Broker Non-Votes      
Barbara T. Alexander    26,184,552    16,221    144,743    2,140,201
Scott A. Carmilani    25,628,300    487,189    200,027    2,140,201
James F. Duffy    26,151,879    48,862    114,775    2,140,201
Bart Friedman    26,066,590    134,067    114,859    2,140,201
Scott Hunter    26,152,021    48,720    114,775    2,140,201
Patrick de Saint-Aignan    26,184,946    15,795    114,775    2,140,201
Eric S. Schwartz    26,156,072    15,050    144,394    2,140,201
Samuel J. Weinhoff    26,185,587    15,070    114,859    2,140,201

Proposal 3          Election of Chairman of the Board

The Company’s shareholders elected Scott A. Carmilani as the Chairman of the Board to hold office until the Company’s Annual Shareholder Meeting in 2015.

 

        For        

         Against                Abstain                Broker Non-Votes      
21,695,067    4,420,422    200,027    2,140,201

 

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Proposal 4          Election of Compensation Committee Members

The Company’s shareholders elected the following directors as members of the Compensation Committee of the Board to serve until the Company’s Annual Shareholder Meeting in 2015:

 

             For                  Against                Abstain                Broker Non-Votes      
Barbara T. Alexander    26,185,827    14,980    114,709    2,140,201
James F. Duffy    26,156,409    44,413    114,694    2,140,201
Bart Friedman    26,100,656    100,082    114,778    2,140,201
Scott Hunter    26,186,087    14,735    114,694    2,140,201
Patrick de Saint-Aignan    26,183,822    14,452    117,242    2,140,201
Eric S. Schwartz    26,154,429    14,226    146,861    2,140,201
Samuel J. Weinhoff    26,156,956    43,782    114,778    2,140,201

Proposal 5          Election of the Independent Proxy

The Company’s shareholders elected Buis Buergi AG as the independent proxy to serve at and until the conclusion of the Company’s Annual Shareholder Meeting in 2015.

 

      For      

         Against                Abstain                Broker Non-Votes      
28,288,675    3,000    117,168    46,874

Proposal 6          Advisory Vote on Named Executive Officer Compensation

The Company’s shareholders approved an advisory vote on the Company’s named executive officer compensation.

 

        For        

         Against                Abstain                Broker Non-Votes      
25,843,726    326,578    145,212    2,140,201

Proposal 7          Approval of the Company’s Annual Report and Financial Statements

The Company’s shareholders approved the Company’s 2013 Annual Report and its consolidated financial statements and audited statutory financial statements for the year ended December 31, 2013.

 

            For             

              Against                         Abstain            
28,046,108   1,760   407,849

Proposal 8          Approval of Retention of Disposable Profits

The Company’s shareholders approved the retention of disposable profits.

 

            For             

              Against                           Abstain            
28,335,212   2,052   118,453

 

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Proposal 9          Approval of Dividend Payments

The Company’s shareholders approved the payment of dividends to the Company’s shareholders from general legal reserve from capital contributions.

 

            For             

              Against                           Abstain            
28,338,627   1,035   116,055

Proposal 10          Approval of Cancellation of Treasury Shares

The Company’s shareholders approved an amendment to the Articles of Association to reduce the Company’s share capital through the cancellation of a portion of shares held in treasury.

 

            For             

              Against                           Abstain            
28,336,507   1,866   117,344

Proposal 11          Approval of New Share Repurchase Program

The Company’s shareholders approved a new $500 million share repurchase program.

 

        For        

         Against                Abstain                Broker Non-Votes      
21,094,787    5,004,794    215,935    2,140,201

Proposal 12          Approval of 3-for-1 Split of Common Shares

The Company’s shareholders approved a 3-for-1 split of the Company’s common shares.

 

        For        

         Against                Abstain                Broker Non-Votes      
28,288,653    3,768    116,422    46,874

Proposal 13          Approval of Extension of Board’s Ability to Issue Authorized Share Capital

The Company’s shareholders approved an amendment to the Articles of Association to extend the Board’s ability to issue authorized share capital until May 1, 2016.

 

        For        

         Against                Abstain                Broker Non-Votes      
26,892,619    1,369,662    146,562    46,874

Proposal 14          Election of Auditors

The Company’s shareholders elected Deloitte & Touche Ltd. as the Company’s independent auditor and Deloitte AG as the Company’s statutory auditor, each to serve until the Company’s Annual Shareholder Meeting in 2015.

 

      For      

         Against                Abstain      
28,203,023    137,400    115,294

 

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Proposal 15          Election of Special Auditor

The Company’s shareholders elected PricewaterhouseCoopers AG as the Company’s special auditor to serve until the Company’s Annual Shareholder Meeting in 2015.

 

          For      

           Against                    Abstain        
28,302,876    37,315    115,526

Proposal 16          Approval of Granting a Discharge

The Company’s shareholders approved a discharge to the Company’s Board and executive officers from liabilities for their actions during the year ended December 31, 2013.

 

        For        

           Against                    Abstain                  Broker Non-Votes      
26,030,111    11,075    274,330    2,140,201

Item 9.01.  Financial Statements and Exhibits.

(d)          Exhibits

 

Exhibit
Number

  

Description

3.1    Articles of Association of Allied World Assurance Company Holdings, AG, as amended and restated.

 

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    ALLIED WORLD ASSURANCE COMPANY HOLDINGS, AG
Dated: May 2, 2014     By:   /s/ Wesley D. Dupont
    Name:  Wesley D. Dupont
    Title:  Executive Vice President & General Counsel

 

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EXHIBIT INDEX

 

Exhibit
Number

  

Description

3.1    Articles of Association of Allied World Assurance Company Holdings, AG, as amended and restated.