Share buyback

Current share buyback: March to December 2026

As announced on 27 February 2026, Swiss Re Ltd's Board of Directors has approved the repurchase of up to a maximum of USD 1.5 billion purchase value of its registered shares (including USD 500 million as part of its sustainable annual share buyback programme), through a public buyback for cancellation purposes, launched on 4 March 2026 and to be completed by 31 December 2026.

Repurchases of Swiss Re shares are carried out on a second trading line on the SIX Swiss Exchange, with Swiss Re as the exclusive buyer, via Zürcher Kantonalbank acting as its agent.

A shareholder wishing to sell Swiss Re shares may do so either on the ordinary trading line or on the second trading line. Swiss Re shares which are sold on the second trading line are subject to the Swiss federal withholding tax rate of 35 percent on the difference between the repurchase price of the Swiss Re share and its nominal value. This tax will be deducted from the repurchase price and paid directly to the Swiss Federal Tax Administration. Shareholders domiciled in Switzerland are entitled to a refund of the Swiss withholding tax provided they were the beneficial owners of the Swiss Re shares at the time of the sale via the second trading line (i.e. settlement of the repurchase transaction) and there is no tax avoidance (Article 21 et seq. of the Withholding Tax Law). Shareholders domiciled outside Switzerland may reclaim the withholding tax in accordance with any applicable double taxation agreements.

Following the approval by the Annual General Meeting on 10 April 2026 of the redenomination of the Swiss Re shares from CHF to USD, as announced by official communication from SIX Swiss Exchange AG, the nominal value of one Swiss Re share used in the calculation of Swiss federal withholding tax changed from CHF 0.10 to USD 0.12. For the purpose of calculating the Swiss federal withholding tax in respect of purchases occurring on and after 15 April 2026, the USD 0.12 nominal value of one Swiss Re share will be converted daily to CHF based on the USD/CHF conversion rate provided daily by the Federal Tax Administration. The nominal value of one Swiss Re share in CHF, recalculated daily, is made available to market participants by SIX Financial Information via the Valordata Browser application.

All shareholders must seek their own specific tax advice, and nothing herein is intended or should be considered as tax advice.

Further details on the share buyback can be found in the official announcements, which can be accessed using the following links:

Official buyback announcements in German and French

• Rückkaufsinserat
• Rachat d'actions en vue d'une réduction du capital

Swiss Re shares

Publication of transactions

Buyback transactions will be reported here on a regular basis:

• Transaction report

Maximum daily repurchase volume

Swiss Re is limited to repurchasing a maximum of 209'662 Swiss Re shares per day.

The maximum daily repurchase volume is calculated in accordance with Article 123(1)(c) of the Swiss Federal Ordinance on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading (Financial Market Infrastructure Ordinance, FMIO) of 25 November 2015.

Share buyback programme May 2019 – February 2020

On 17 April 2019, Swiss Re Ltd's (the "Company" or "Swiss Re") shareholders authorised at the 2019 Annual General Meeting the Group Board of Directors to repurchase the Company's own shares in two tranches of up to CHF 1 billion purchase value each, prior to the 2020 Annual General Meeting by way of a buyback programme for cancellation purposes (the "Programme").

As announced on 3 May 2019, the first tranche of the Programme of up to CHF 1 billion purchase value was launched on 6 May 2019 following receipt of regulatory approval. The first tranche of the Programme, which had been established in line with Swiss Re's capital management priorities, was completed on 18 February 2020 as announced on the same day.

As announced on 31 October 2019, the Board of Directors decided not to launch the second tranche of the Programme.

Repurchases of Swiss Re shares were carried out on a second trading line on the SIX Swiss Exchange, with Swiss Re as the exclusive buyer, via Zürcher Kantonalbank acting as agent.

A shareholder wishing to sell Swiss Re shares could do so either via the ordinary trading line or via the second trading line. Swiss Re shares sold via the second trading line were subject to the Swiss federal withholding tax rate of 35 percent on the difference between the repurchase price of the Swiss Re share and its nominal value of CHF 0.10. The Company or its agent deducted this tax from the repurchase price for payment to the Federal Tax Administration. Shareholders domiciled in Switzerland are entitled to a reimbursement of the withholding tax provided they were beneficial owners of the shares at the time they were surrendered and they do not avoid taxes (Article 21 of the Withholding Tax Law). Shareholders domiciled outside Switzerland may reclaim the withholding tax in accordance with any applicable double taxation agreements. All shareholders must seek their own specific tax advice, and nothing herein is intended or should be considered as tax advice.

Further details on the Programme can be found in the official announcements, which can be accessed using the following links:

Official buyback announcements in German and French

• Rückkaufsinserat
• Rachat d'actions en vue d'une réduction du capital
   

Swiss Re registered shares on the second line

Publication of transactions

Share buyback transactions will be reported on a regular basis under the following link:

• Transaction report

Maximum daily repurchase volume

Swiss Re was limited to repurchasing a maximum of 348,364 shares per day.

Calculated in accordance with Article 123(1)(c) of the Swiss Federal Ordinance on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading (Financial Market Infrastructure Ordinance, FMIO) of 25 November 2015.

Share buyback programme May 2018 – February 2019

On 20 April 2018, Swiss Re Ltd's ("Swiss Re") shareholders authorised at the 2018 Annual General Meeting the Group Board of Directors to repurchase up to a maximum of CHF 1 billion purchase value of Swiss Re's own shares prior to the 2019 Annual General Meeting by way of a buyback programme for cancellation purposes (the "Programme").

As announced on 4 May 2018, the Programme was launched on 7 May 2018 following receipt of regulatory approval. The Programme, which had been established in line with Swiss Re's capital management priorities, was completed on 15 February 2019 as announced on 18 February 2019.

Repurchases of Swiss Re shares were carried out on a second trading line on the SIX Swiss Exchange, with Swiss Re as the exclusive buyer, via Zürcher Kantonalbank ("ZKB") acting as agent.

A shareholder wishing to sell Swiss Re shares could do so either via the ordinary trading line or via the second line. Swiss Re shares sold via the second trading line were subject to the Swiss federal withholding tax rate of 35 percent on the difference between the repurchase price of the Swiss Re share and its nominal value of CHF 0.10. ZKB deducted this tax from the repurchase price for payment to the Federal Tax Administration. Shareholders who sold Swiss Re shares via the second trading line and who are domiciled in Switzerland are entitled to a reimbursement of the withholding tax provided they were beneficial owners of the shares at the time they were surrendered and they do not avoid taxes (Article 21 of the Withholding Tax Law). Shareholders who sold Swiss Re shares via the second trading line and who are domiciled outside Switzerland may reclaim the withholding tax in accordance with any applicable double taxation agreements. All shareholders must seek their own specific tax advice, and nothing herein is intended or should be considered as tax advice.

Further details on the Programme can be found in the official announcements, which can be accessed using the following links:

Official buyback announcements in German and French

• Rückkaufsinserat
• Rachat d'actions en vue d'une réduction du capital

Swiss Re registered shares on the second line

Publication of transactions

Share buyback transactions were reported under the following link:

• Transaction report

Maximum daily repurchase volume

Swiss Re was limited to repurchasing maximum of 419,474 shares per day.

Calculated in accordance with Article 123(1)(c) of the Swiss Federal Ordinance on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading (Financial Market Infrastructure Ordinance, FMIO) of 25 November 2015.

Share buyback programme November 2017 – February 2018

On 21 April 2017, Swiss Re Ltd's ("Swiss Re") shareholders authorised at the 2017 Annual General Meeting the Group Board of Directors to repurchase up to a maximum of CHF 1 billion purchase value of Swiss Re's own shares prior to the 2018 Annual General Meeting by way of a buyback programme for cancellation purposes (the "Programme").

As announced on 2 November 2017, the Programme was launched on 3 November 2017 following receipt of regulatory approval. The Programme, which has been established in line with Swiss Re's capital management priorities, was completed on 16 February 2018 as announced on 19 February 2018.

Repurchases of Swiss Re shares were carried out on a second trading line on the SIX Swiss Exchange, with Swiss Re as the exclusive buyer, via Zürcher Kantonalbank ("ZKB") acting as agent.

A shareholder wishing to sell Swiss Re shares could do so either via the ordinary trading line or via the second line. Swiss Re shares sold via the second trading line were subject to the Swiss federal withholding tax rate of 35 percent on the difference between the repurchase price of the Swiss Re share and its nominal value of CHF 0.10. ZKB deducted this tax from the repurchase price for payment to the Federal Tax Administration. Shareholders domiciled in Switzerland are entitled to a reimbursement of the withholding tax provided they are beneficial owners of the shares at the time they are surrendered and they do not avoid taxes (Article 21 of the Withholding Tax Law). Shareholders domiciled outside Switzerland may reclaim the withholding tax in accordance with any applicable double taxation agreements. All shareholders must seek their own specific tax advice, and nothing herein is intended or should be considered as tax advice.

Further details on the Programme can be found in the official announcements, which can be accessed using the following links:

Official buyback announcements in German and French

• Rückkaufsinserat
• Rachat d'actions en vue d'une réduction du capital

Publication of transactions

Share buyback transactions were reported under the following link:

• Transaction report

Maximum daily repurchase volume

Swiss Re was limited to repurchasing maximum of 386,555 shares per day.

Calculated in accordance with Article 123(1)(c) of the Swiss Federal Ordinance on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading (Financial Market Infrastructure Ordinance, FMIO) of 25 November 2015.

Share buyback programme November 2016 – February 2017

On 22 April 2016, Swiss Re Ltd's (the "Company" or "Swiss Re") shareholders authorised at the 2016 Annual General Meeting the Group Board of Directors to repurchase up to a maximum of CHF 1 billion purchase value of the company's own shares prior to the 2017 Annual General Meeting by way of a buyback programme for cancellation purposes (the "Programme").

As announced on 3 November 2016, the Programme was launched on 4 November 2016 following receipt of regulatory approval. The Programme, which has been established in line with Swiss Re's capital management priorities to achieve Swiss Re's objective of returning excess capital to shareholders when it is available, no major loss event has occurred and other business opportunities do not meet Swiss Re's strategic and financial objectives, was completed on 9 February 2017 as announced on 10 February 2017.

Repurchases of Swiss Re shares were carried out on a second trading line on the SIX Swiss Exchange, with Swiss Re as the exclusive buyer, via Zürcher Kantonalbank acting as agent.

A shareholder wishing to sell Swiss Re shares could do so either via the ordinary trading line or via the second line. Swiss Re shares sold via the second trading line were subject to the Swiss federal withholding tax rate of 35 percent on the difference between the repurchase price of the Swiss Re share and its nominal value of CHF 0.10. This tax was deducted from the repurchase price. Shareholders domiciled in Switzerland are entitled to a reimbursement of the withholding tax provided they are beneficial owners of the shares at the time they are surrendered and they do not avoid taxes (Article 21 of the Withholding Tax Law). Shareholders domiciled outside Switzerland may reclaim the withholding tax in accordance with any applicable double taxation agreements. All shareholders must seek their own specific tax advice, and nothing herein is intended or should be considered as tax advice.

Further details on the Programme can be found in the official announcements, which can be accessed using the following links:

Official buyback announcements in German and French

• Rückkaufsinserat
• Rachat d'actions en vue d'une réduction du capital

Swiss Re registered shares on the second line 

Publication of transactions

Share buyback transactions are reported under the following link.

• Transaction report

Maximum daily repurchase volume

Swiss Re was limited to repurchasing a maximum of 358,758 shares per day.

Calculated in accordance with Article 123(1)(c) of the Swiss Federal Ordinance on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading (Financial Market Infrastructure Ordinance, FMIO) of 25 November 2015.

Share buyback programme November 2015 – March 2016

On 21 April 2015, Swiss Re Ltd's (the "Company" or "Swiss Re") shareholders authorised at the 2015 Annual General Meeting the Group Board of Directors to repurchase up to a maximum of CHF 1 billion purchase value of the Company's own shares prior to the 2016 Annual General Meeting by way of a buyback programme for cancellation purposes (the "Programme").

As announced on 29 October 2015, the company planned the launch of the Programme for mid November 2015 subject to regulatory approval. Having received the necessary regulatory approvals, the Company launched the Programme  on 12 November 2015. The Programme, which has been established to achieve Swiss Re's objective of returning capital to shareholders when excess capital is available, no major loss event has occurred and other business opportunities do not meet Swiss Re's strategic and financial objectives, was completed on 2 March 2016 as announced on 3 March 2016.

Repurchases of Swiss Re shares were carried out on a second trading line on the SIX Swiss Exchange, with Swiss Re as the exclusive buyer, via UBS AG as agent.

A shareholder wishing to sell Swiss Re shares could do so either via the ordinary trading line or via the second trading line. Swiss Re shares sold via the second trading line were subject to the Swiss federal withholding tax rate of 35 percent on the difference between the repurchase price of the Swiss Re share and its nominal value of CHF 0.10. This tax was deducted from the repurchase price. Shareholders domiciled in Switzerland are entitled to a reimbursement of the withholding tax provided they are beneficial owners of the shares at the time they are surrendered and they do not avoid taxes (Article 21 of the Withholding Tax Law). Shareholders domiciled outside Switzerland may reclaim the withholding tax in accordance with any applicable double taxation treaties. All shareholders must seek their own specific tax advice, and nothing herein is intended or should be considered as tax advice.

Further details on the Programme can be found in the official announcements, which can be accessed using the following links:

Official buyback announcements in German and French

• Rückkaufsinserat
• Rachat d'actions en vue d'une réduction du capital

Swiss Re registered shares on the second line 

Publication of transactions

Share buyback transactions are reported under the following link.

• Transaction report

Maximum daily repurchase volume

Swiss Re was limited to repurchasing a maximum of 302'786 shares per day.

Calculated in accordance with Art. 55b(1)c of the Swiss Federal Ordinance on Stock Exchange and Securities Trading).