February 18, 2019 / 6:22 AM / 9 months ago

Swiss Re completes 1 billion franc share buyback

FILE PHOTO - The logo of insurance company Swiss Re is seen in front of its headquarters in Zurich, Switzerland February 12, 2019. REUTERS/Arnd WIegmann/File Photo GLOBAL BUSINESS WEEK AHEAD

ZURICH (Reuters) - Swiss Re (SRENH.S) has completed its 1 billion Swiss franc (771.71 million pounds) share buyback, the reinsurer said on Monday, finishing a programme launched last year.

The Zurich-based company said it had bought 11.2 million shares, equivalent to 3.21 percent of its outstanding shares, at an average price of 89.17 francs per share.

The buy-back was established to return capital to shareholders, said the company, which is due to report its full-year earnings on Thursday.

Reporting by John Revill,; Editing by Tassilo Hummel

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