Swiss Reinsurance is planning to repurchase shares worth about $1 billion, Bloomberg reports. The Zurich-based reinsurer has already repaid a life-line extended by Warren Buffett. The company had about $1.5-3.5 billion dedicated to buyback shares, dividends and other business opportunities, its CFO, George Quinn, had said on September 13. Swiss Re has suffered about $8 billion of write-downs and losses due to its strategy of trading securities under previous CEO, Jacques Aigrain.
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