Between June 17 and October 30, 2024, Zurich repurchased a total of 2,221,529 shares through the program, at a total cost of 1.1 billion Swiss francs. This represents 1.47 percent of the company’s share capital, according to a company statement released on Thursday.

The buybacks were conducted via a second trading line on the SIX Swiss Exchange, with an average purchase price of 495.15 francs per share.

Shares Set for Cancellation

Zurich plans to cancel these repurchased shares through its capital band.

In comparison, during its prior buyback program (2022/23), which concluded on June 7, 2023, Zurich bought back approximately 4.1 million shares, totaling 1.8 billion francs, which represented around 2.7 percent of its share capital.

Currently, Zurich’s shares are trading at 509.00 francs, down 1.4 percent. Year-to-date, they have gained approximately 16 percent in value, with a multi-year high of 529.60 francs recorded at the beginning of October.