Global reinsurance giant Swiss Re has announced the completion of the 2019 public share buyback programme of up to CHF 1.0 billion purchase value.
The 2019 public share buyback programme was authorised by the Annual General Meeting on April 17th, 2019 and launched on May 6th, 2019.
The reinsurer notes that since May 6th, 2019, it has repurchased 9,907,398 of its shares for a total purchase value of CHF 999,999,970.00, at an average purchase price of CHF 100.93 per share.
Following the completion of its 2018 public share buy-back program in February 2019, Swiss Re announced a new, larger share buyback programme in April.
However, in its results announcement for the first nine months of the year in 2019, the reinsurer announced that it had decided to cancel the launch of the second tranche of the public share buy-back programme.
