Swiss Re announces that it holds more than 98% of SRZ shares and will file for invalidation and delisting of remaining SRZ shares
09 June 2011, Zurich
Swiss Re announces that more than 98% of shares in Swiss Reinsurance Company Ltd (“SRZ”) are held by or have been tendered to Swiss Re Ltd (“SRL”). SRL will file a request with the competent court to invalidate the remaining SRZ shares.
Based on article 33 of the Federal Act on Stock Exchanges and Securities Trading, SRL will file a request with the competent court to invalidate the SRZ shares not held directly or indirectly by SRL at that point in time.
Once this request has been approved by the court, the remaining SRZ shares are expected to be immediately delisted from the SIX Swiss Exchange. Shareholders of invalidated shares will receive one SRL share for each SRZ share, subject to applicable securities law restrictions.
Notes to editors
Swiss Re Ltd
Effective 20 May 2011, Swiss Re Ltd became the holding company of the Swiss Re group of companies.
Swiss Reinsurance Company Ltd
Swiss Reinsurance Company Ltd is a leading and highly diversified global reinsurer and part of the Swiss Re group of companies. The company operates through offices in more than 20 countries. Founded in Zurich, Switzerland, in 1863, Swiss Re offers financial services products that enable risk-taking essential to enterprise and progress. The company’s traditional reinsurance products and related services for property and casualty, as well as the life and health business are complemented by insurance-based corporate finance solutions and supplementary services for comprehensive risk management. Swiss Reinsurance Company Ltd is rated “A+“ by Standard & Poor’s, “A1” by Moody’s and “A” by A.M. Best.
This release is not an offer of securities for sale, or the solicitation of an offer to acquire securities, in any jurisdiction, including the United States. The shares of Swiss Re Ltd have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or under the securities law of any state or other jurisdiction of the United States and may not be offered, sold, resold or delivered, directly or indirectly, in or into the United States, except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.
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