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Zurich completes share buyback

Zurich Insurance Group AG completed a share buyback program under which it repurchased about 1,740,000 shares at an average purchase price of CHF315.0387 each.

The total purchase value of the buyback amounted to about CHF548.2 million. Zurich said its board intends to propose at the 2019 annual general meeting that its ordinary share capital be trimmed through the cancellation of the shares repurchased under the program.

The firm added that with the completion of the buyback, it had concluded its antidilution measures consisting of the repurchase of shares of about $1 billion.