Munich Re resumes share buy-back programme

The reinsurer will buy €1bn of shares • Groupama merges Romanian units • ING sells majority stake in Australian business

Munich Re is to resume its share buy-back programme. The reinsurer has said that it will buy shares worth some €1bn ($1.46bn) between now and its 2010 annual meeting due on 28 April of next year. This corresponds to some 9.2 million shares or 4.7% of issued capital.