November 29, 2018 / 6:31 AM / 20 days ago

Swiss Life targets higher payout ratio, announces 1 bln Sfr share buyback

ZURICH, Nov 29 (Reuters) - Swiss Life said on Thursday it wanted to increase its dividend payout ratio to 50-60 percent in the next three years and announced a share buyback programme of 1 billion Swiss francs ($1.01 billion) over the next thirteen months.

The Swiss life insurer also wants to strengthen the quality of earnings and earnings growth and increase operational efficiency, it said in a statement released ahead of its investor day.

It had targeted a payout ratio of 30-50 percent for the 2016 to 2018 period. ($1 = 0.9918 Swiss francs) (Reporting by Silke Koltrowitz, editing by Tassilo Hummel)

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