OREANDA-NEWS. Swiss Re's share buy-back programme of up to CHF 1 billion will start on 12 November 2015. The programme, announced on 29 October 2015 and authorised by the Annual General Meeting on 21 April 2015, will run until 2 March 2016 at the latest.

The previously announced share buy-back programme has been established to achieve Swiss Re's objective of returning capital to shareholders when excess capital is available, no major loss event has occurred and other business opportunities do not meet Swiss Re's strategic and financial objectives. As the tax privileged legal reserve from capital contribution was exhausted with the payment of the regular and special dividends in 2015, the share buy-back is the appropriate tool for excess capital management measures.

UBS AG has been mandated to carry out share repurchases on behalf of Swiss Re under terms of article 55c para 2 lit. a of the Swiss Stock Exchange Ordinance (SESTO) on a second trading line opened for this purpose. The repurchases for cancellation purposes will take place under Valor 28.649.180, ISIN CH0286491805 and ticker symbol SRENE.

Swiss Re

The Swiss Re Group is a leading wholesale provider of reinsurance, insurance and other insurance-based forms of risk transfer. Dealing direct and working through brokers, its global client base consists of insurance companies, mid-to-large-sized corporations and public sector clients. From standard products to tailor-made coverage across all lines of business, Swiss Re deploys its capital strength, expertise and innovation power to enable the risk-taking upon which enterprise and progress in society depend. Founded in Zurich, Switzerland, in 1863, Swiss Re serves clients through a network of about 70 offices globally and is rated "AA-" by Standard & Poor's, "Aa3" by Moody's and "A+" by A.M. Best. Registered shares in the Swiss Re Group holding company, Swiss Re Ltd, are listed in accordance with the International Reporting Standard on the SIX Swiss Exchange and trade under the symbol SREN.