NU Online News Service, Oct. 1, 3:24 p.m. EDT

Munich Reinsurance Company said today it will resume its share buy-back program from Oct. 1 extending until its annual meeting on April 28, 2010 at the latest.

Munich Re said it intends to buy back shares for a total purchase price of up to EUR1 billion ($1.46 billion). On the basis of the current share price, this would amount to around 9.2 million shares, or 4.7 percent of the share capital. The repurchased shares are to be retired.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Reinsurance