Reinsurance News

Swiss Re completes CHF 1 billion share buy back programme

19th February 2018 - Author: Staff Writer

Swiss Re has completed the November 2017 launched public share buy-back programme of up to CHF 1 billion purchase value as of 16th February.

Swiss Re logoSince November 2017 Swiss Re has repurchased nearly eleven million of its shares for a total purchase value of close to CHF 1 billion at an average purchase price of CHF 92 per share.

On 21 April 2017, Swiss Re shareholders had authorised the repurchase up to a maximum of CHF 1 billion purchase value of Swiss Re’s own shares prior to the 2018 Annual General Meeting through a buy-back programme.

The public share buy-back programme was set up as a way to return excess capital to shareholders, in accordance with Swiss Re’s capital management priorities.

The reinsurer has been returning capital through these buybacks for a number of years now, as market conditions mean that it has been harder to deploy all of its available capital profitably.

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