Share performance

Swiss Re shares

Swiss Re had a market capitalisation of CHF 35.6 billion on 31 December 2019, with 327.4 million shares outstanding, of which 290.7 million were entitled to dividends. Swiss Re shares are listed in accordance with the International Reporting Standard on the SIX Swiss Exchange (SIX) and are traded under the ticker symbol SREN, ISIN CH0126881561 and Swiss Security Number 12688156.

American Depositary Receipts (ADR)

In the US, Swiss Re maintains an ADR level I programme (OTC symbol SSREY).

Share price performance

Swiss Re shares opened the year at CHF 89.38. An intra-day high of CHF 110.45 was achieved on 27 December 2019. On 3 January 2019, the shares experienced an intra-day low of CHF 88.90. The year-end share price was CHF 108.70.

During 2019, the STOXX Europe 600 Insurance index (SXIP) increased by 24.4% and the broader index of Swiss blue chips (SMI) increased by 25.4%. The Swiss Re share increased by 20.6%.

Share trading

The average on-exchange daily trading volume for 2019 was 0.7 million shares. Trading volume peaked at 3.8 million shares on 3 May 2019.

Swiss Re’s dividend policy

Swiss Re’s dividend policy is a central element of Swiss Re’s capital management priorities.

The Group aims to ensure superior capitalisation at all times and to maximise financial flexibility, growing the regular dividend with long-term earnings and, at a minimum, maintaining it. Swiss Re will then deploy capital for business growth where it meets its strategy and profitability requirements and finally repatriate further excess capital to shareholders, with the preferred form of future capital repatriation being share buyback programmes.

Dividends are typically paid out of current earnings and Swiss Re pays its dividend annually. Shares are ex-dividend two working days after the Annual General Meeting (AGM). Dividend payment is typically two working days after the ex-dividend date. The corresponding dates in 2020 are 21 and 23 April.

Dividends

The Board of Directors proposes a regular dividend of CHF 5.90 per share for 2019. The dividend paid for 2019 will be subject to 35% Swiss withholding tax.

Public share buyback programme

On 6 May 2019, the Board of Directors launched the public share buyback programme authorised by the 2019 AGM. This programme was completed on 18 February 2020.

For further information please visit www.swissre.com/investors/shares/share_buyback/

The Board of Directors proposes to the 2020 AGM to authorise the company to repurchase own shares for the purpose of cancellation by way of a public share buyback programme of up to CHF 1.0 billion purchase value to be executed before the 2021 AGM.

Swiss Re will ask the AGM in April 2021 permission to cancel the repurchased shares by way of share capital reduction.

Index representation

In addition to its relevant industry indices, Swiss Re is also represented in various Swiss, European and global indices, including the SMI and the SXIP. Swiss Re is also a member of various sustainability indices, including the Dow Jones Sustainability World and Europe, FTSE4Good, Euronext Vigeo World 120, Bloomberg Gender Equality Index and MSCI ESG Leaders index families. In July 2019, Swiss Re received a AAA rating on the MSCI ESG assessment.

Information for investors

More information is available on Swiss Re’s website: www.swissre.com/investors