Zurich Financial Services has completed the share buyback program of CHF1.25 billion ($1.02 billion) announced last February.
Zurich said that as of July 2, 2007, the Company has “bought back 3,432,500 of its registered shares via a second trading line of virt-x and at an average price of CHF 364 [$298] (rounded) per share. The number of repurchased shares reflects 2.36 percent of the share capital issued at the end of June.”
Zurich also indicated that management would “submit a proposal to its shareholders at the Annual General Meeting 2008 to reduce the share capital in the amount of the repurchased shares and to cancel the shares.”
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