Swiss Re will take action on board-level gender diversity and potential age discrimination at its annual general meeting (AGM) next month.

“In line with Swiss Re’s diversity, equity and inclusion strategy, the board of directors places a particular importance on increasing the proportion of women in leadership positions,” the company says. “Therefore, gender diversity plays a key role in all new board appointments.”

To underline this, the board will next month formally commit to increasing its female representation to at least 30% by next year’s AGM, it says.

The board is also proposing to remove an “unwritten age limit” of 70 years for directors.

“This implicit age limit will be suspended in order to avoid age discrimination and will no longer be applied in the board of directors succession planning process,” the company says.

Instead, a 12-year tenure limit will be introduced for all current and new board members.

Swiss Re’s board, chaired by Sergio Ermotti, consisted of 13 members including three women as of April last year.

The AGM will be held on April 13.