Rolf Hüppi, the former chairman and chief executive of troubled Swiss insurer Zurich Financial Services (ZFS), has warned shareholders that $1bn (£0.7bn) in new capital should be raised.
Speaking at his last annual general meeting before stepping down this week, Hüppi said that the capital base needed to be extended "to take full advantage of the attractive market opportunities".
At the meeting, shareholders agreed to increase the amount of contingent share capital from 3m to 8m shares.
They also voted to extend the period during which it could increase its authorised share by up to 6m shares until June 2004.
