Swiss Re mulls another big share repurchase programme

On the back of what it calls a very strong capital position and cash generation, Swiss Re is looking to increase its dividend and authorise a new public share buyback programme of up to Sfr1 billion.

The company said that its board of directors will propose a 5.4 percent increase in the regular dividend for 2016 to Sfr4.85 per share, up from Sfr4.60 for 2015. The dividend will be paid after shareholder approval at the annual general meeting on 21 April 2017.

Swiss Re launched a share buyback programme of up to Sfr1 billion purchase value on 4 November 2016, which ended on 9 February 2017. The board of directors will propose to the 2017 AGM the cancellation of repurchased shares by way of share capital reduction.

The company said: “Swiss Re plans to continue to return capital to shareholders, and the board of directors proposes to seek authorisation for a new share buyback programme of up to Sfr1 billion purchase value to be executed before the 2018 AGM. It will only be launched if excess capital is available, no major loss event has occurred, other business opportunities do not meet Swiss Re's strategic and financial objectives and the necessary regulatory approvals have been obtained.”

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