ZURICH (Reuters) - Switzerland's Zurich Insurance Group AG on Friday said it will launch its previously announced share buyback program on Nov. 21.
Europe's fifth-largest insurer said in August it intended to repurchase up to 1.8 billion Swiss francs ($1.89 billion) worth of shares.
The amount corresponded to a maximum of 4.15 million shares or a maximum of 2.76% of Zurich's registered share capital.
The buyback program, which Zurich Insurance said was for capital reduction purposes, will run until Dec. 29, 2023.
($1 = 0.9521 Swiss francs)
(Reporting by Noele Illien; Editing by Christopher Cushing)