ADR programme

Swiss Re Ltd (“Swiss Re”) has a sponsored Level I American Depositary Receipt (“ADR”) programme that is administered by Deutsche Bank Trust Company Americas as depositary bank.  The purpose of the sponsored Level I ADR programme (also known as an ADR facility) is to increase awareness and accessibility of Swiss Re’s shares in the United States.  ADRs are receipts that represent American Depositary Shares (ADSs), which are traded, cleared and settled in U.S. dollars and any dividends declared are paid in U.S. dollars to ADS holders.  Neither the ADSs nor the underlying Swiss Re shares are listed on a U.S. stock exchange.

The ADSs are traded on the U.S. over-the-counter (OTC) markets under the symbol SSREY. Following a ratio change in June 2015, each ADS represents one quarter of one Swiss Re share. Prior to the change, each ADS represented one Swiss Re share.

Swiss Re shares may not be deposited in the ADR facility unless and until such time as such shares are freely transferable in the United States pursuant to Rule 144 under the U.S. Securities Act of 1933, as amended (the “Securities Act”).

The foregoing does not constitute an offer to sell, or the solicitation of an offer to exchange, any securities. Any offer or sale by Swiss Re of its securities in the United States will be made pursuant to an applicable exemption from registration under the Securities Act and otherwise in compliance with applicable securities laws in any other jurisdiction.

Security overview

  ADR, sponsored level I
programme 1
registered share
Symbol (Bloomberg/Reuters) SSREY:US/SSREY.PK SREN:VX/SREN.VX
Listing Not listed Internatinal Reporting Standard of SIX Swiss Exchange
Trading Over the counter (OTC) SIX Swiss Exchange
ISIN US8708861088 CH0126881561
1 The predecessor ADR programme (OTC: SWCEY) of Swiss Reinsurance Company Ltd was terminated effective March 21, 2011.


ADR depositary bank/contact

Deutsche Bank administers the Swiss Re ADR programme.

ADR programme contact details for brokers and institutional investors:

US: +1 212 250 9100
UK: +44 (0) 207 547 6500

Deutsche Bank Trust Company Americas also acts as registrar, transfer agent, record keeper and dividend paying agent.

ADR programme contact details:

Deutsche Bank Shareholder Services
American Stock Transfer & Trust Company
Operations Center
6201 15th Avenue
Brooklyn, NY 11219


Toll-free number (within the United States): +1 (800) 937 5449
Outside the United States: +1 718 921 8124

FAQ: Frequently Asked Questions about the ADR programme

ADR dividend history

Dividend history is on a per underlying Swiss Re share basis.  Prior to the ratio change in June 2015 one ADS represented one Swiss Re share.  Following the ratio change, each ADS represents one quarter of one Swiss Re share.

ADR declared
ADR record
ADR pay
Gross dividend per
ordinary share (CHF)
Gross dividend
per ADR(USD)
2016 26 April 2016 27 April 2016 16 June 2016 4.60 1.1901921
20152 24 April 2015 24 April 2015 4 May 2015 4.253 4.06045
20142 11 April 2014 14 April 2014 29 April 2014 3.854 4.314392
20132 10 April 2013 16 April 2013 24 April 2013
3.505 3.729398
20122 13 April 2012 19 April 2012
27 April 2012
3.00 3.293807
20112 15 April 2011 - 6 - 6 2.75 3.121099
2010 07 April 2010 13 April 2010 10 May 2010 1.00 0.937699
2009 09 March 2009 17 March 2009 27 April 2009 0.10 0.08513
2008 27 March 2008 22 April 2008 03 June 2008 4.00 3.913542
2007 03 April 2007 24 April 2007 30 May 2007 3.40 2.803568
2006 16 March 2006 25 April 2006 31 May 2006 2.50 1.986097
2005 13 April 2005 11 May 2005 15 June 2005 1.60 1.28449
2004 07 April 2004 18 May 2004 23 June 2004 1.10 0.85839



A depositary fee of USD 0.03 per ADR will be deducted at source.


The dividends paid in 2011, 2012, 2013, 2014 and 2015 are Swiss withholding tax and Swiss income tax exempt distributions out of legal reserves from capital contributions for Swiss resident individuals holding shares as a private investment.

For dividends paid in 2010 and prior, dividends were subject to Swiss withholding tax of 35% at the time of initial payment. For ADR holders, the depositary bank performs a tax reclaim process with the Swiss tax authorities. The actual dividend tax paid depends on the specific tax status of the dividend recipient. The tax reclaim process causes a difference in timing between the pay dates for the registered Swiss Re share and the ADR. For further tax questions, please consult your tax advisor.


In addition to the regular dividend of CHF 4.25 per share a special dividend of CHF 3.00 (USD 2.8662) per share was paid in 2015.


In addition to the regular dividend of CHF 3.85 per share a special dividend of CHF 4.15 (USD 4.682915) per share was paid in 2014.


In addition to the regular dividend of CHF 3.50 per share a special dividend of CHF 4.00 (USD 4.296455) per share was paid in 2013.


In connection with the establishment of Swiss Re Ltd as the new holding company for the Swiss Re Group, the Swiss Re sponsored ADR programme (OTC: SWCEY) was terminated effective 21 March 2011. Outstanding dividends for ADR holders were paid together with the net sale proceeds when the ADRs were surrendered.