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Allianz, Europe's largest insurer, proposed spending 3 billion euros ($3.2 billion) on buying back its own shares on Thursday after the Munich-based firm posted higher than expected profits and said it was adjusting its policy on budgeting for possible takeovers..
Allianz to launch €3bn share buyback as earnings gain (THE FINANCIAL TIMES)
Allianz said it would launch a share buyback worth up to €3bn, as Europe’s largest insurance group posted a 23 per cent rise in fourth-quarter profits.
Dieter Wemmer, chief financial officer at Allianz, discusses the company's dividend and share buyback plans, his outlook for the company and where he sees opportunity.
Allianz: Bumper buyback shows insurer’s strength (THE WALL STREET JOURNAL)
People often complain their insurers don’t pay out what they should: Investors in Allianz can have no such gripes. The Germany-based global insurer and owner of asset manager Pimco launched a €3 billion ($3.18 billion) share buyback in its 2016 results on top of a 4% increase in its ordinary dividend in line with profit growth for the year..
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