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.
Since 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.