Munich Re reveals €1bn share buy-back plan

German reinsurer Munich Re intends to buy-back shares for a maximum purchase price of €1 billion in the period between April 30, 2020 and the Annual General Meeting on April 28, 2021.

As per the current share price (as at 25 February 2020), this would amount to around 2.7 percent of the share capital and would correspond to around 3.9 million shares.

Munich Re said that its own shares acquired under the 2019/2020 share buy-back programme in the period from May 02, 2019 to no later than the company's Annual General Meeting on April 29, 2020 are to be retired.