May 7, 2018 / 10:34 PM / 17 days ago

BRIEF-ANZ Finalises Reinsurance Arrangements With Zurich, Receives $1 Bln Of Reinsurance Proceeds

May 8 (Reuters) - Australia and New Zealand Banking Group Ltd:

* FINALISED REINSURANCE ARRANGEMENTS WITH ZURICH AND HAS RECEIVED AROUND $1 BILLION OF REINSURANCE PROCEEDS

* REINSURANCE PROCEEDS RESULT IN INCREASE OF 25BPS IN ANZ’S APRA COMMON EQUITY TIER 1 CAPITAL

* WILL CONTINUE TO WORK THROUGH CAPITAL MANAGEMENT OPTIONS, WHICH MAY INCLUDE AN ADDITIONAL ON-MARKET BUYBACK OF $1 BILLION TO $1.5 BILLION

* PURCHASE OF SHARES ASSOCIATED WITH DRP IS EXPECTED TO COMMENCE ON 18 MAY AND CONTINUE UNTIL 31 MAY Source text for Eikon: Further company coverage:

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