Zurich completes public share buyback program
Zurich Insurance Group Ltd (Zurich) announced today that on June 7, 2023 it has completed its public share buyback program of up to CHF 1.8 billion which it launched on November 21, 2022.
Since November 21, 2022, Zurich has repurchased 4,104,413 of its shares for a total purchase value of CHF 1.8 billion at an average purchase price of CHF 438.55.
The Board of Directors intends to use the capital band introduced at the last Annual General Meeting to cancel the shares repurchased under the share buyback program.
More information about the completed share buyback program can be found here.
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Zurich Insurance Group (Zurich) is a leading multi-line insurer serving people and businesses in more than 200 countries and territories. Founded 150 years ago, Zurich is transforming insurance. In addition to providing insurance protection, Zurich is increasingly offering prevention services such as those that promote wellbeing and enhance climate resilience.
Reflecting its purpose to ‘create a brighter future together,’ Zurich aspires to be one of the most responsible and impactful businesses in the world. It is targeting net-zero emissions by 2050 and has the highest-possible ESG rating from MSCI. In 2020, Zurich launched the Zurich Forest project to support reforestation and biodiversity restoration in Brazil.
The Group has about 60,000 employees and is headquartered in Zurich, Switzerland. Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information is available at www.zurich.com.
General notice
This news release neither constitutes (i) an offering prospectus within the meaning of Art. 35 et seqq. of the Financial Services Act, (ii) nor a listing prospectus within the meaning of the SIX Exchange Regulation Listing Rules.
This news release is not intended to be a recommendation to buy, sell or hold securities and does not constitute an offer for the sale of, or the solicitation of an offer to buy, securities in any jurisdiction, including the United States. Any such offer will only be made by means of a prospectus or offering memorandum, and in compliance with applicable securities laws.