Swiss Life, the insurance group which is facing a criminal investigation and has replaced its chief executive officer, has delayed launching its Sfr1.2bn (€821m) rights issue until November 18.

The offer was due to be launched this week. Rolf Dörig, the new chief executive officer, said in a statement: "After consulting with Credit Suisse First Boston, I decided to postpone the transaction by a few days to personally ensure that my expectations are being met and the highest achievable level of transparency and information is offered to our shareholders and investors while going into this very important transaction."