Swiss Re completes $1bn public share buy-back programme

Swiss Re has completed the public share buy-back programme of up to Sfr1 billion ($1.01 billion) purchase value, authorised by the annual general meeting on 21 April 2015 and which it launched on 12 November 2015.

Since 12 November 2015, Swiss Re has repurchased 10, 634, 370 of its shares for a total of Sfr999, 999, 867.20 at an average purchase price of Sfr94.03 per share.

As announced during the publication of the full-year 2015 results on 23 February 2016, the Board of Directors will also propose to the 2016 annual general meeting the cancellation of the repurchased shares by way of share capital reduction.

The public share buy-back programme was established to achieve Swiss Re's objective of returning capital to shareholders when excess capital is available, no major loss event has occurred and other business opportunities do not meet Swiss Re's strategic and financial objectives.