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Munich Re To Buy Back Upto EUR 1 Bln Shares By 2020 AGM

German reinsurer Munich Re (0KFE.L) announced Tuesday that it intends to buy back shares for a maximum purchase price of 1 billion euros in the period commencing after the 2019 Annual General Meeting and extending up to the 2020 Annual General Meeting.

The decision is on the basis of the authorization granted by the Annual General Meeting in April 2018. The shares will be purchased in the period between May 2, 2019 and, at the latest, the Annual General Meeting on April 29, 2020.

On the basis of the current share price, the repurchase would amount to around 3.1% of the share capital and would correspond to around 4.6 million shares.

The own shares acquired under the 2018/2019 share buy-back programme in the period from April 25, 2018 to no later than the Company's Annual General Meeting on 30 April 2019 are to be retired.

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