DGAP-Ad-hoc: Allianz SE / Key word(s): Share Buyback
Allianz SE: Allianz SE launches share buy-back with a volume of up to EUR 3 billion
16-Feb-2017 / 18:52 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Allianz SE has decided to launch a share buy-back program with a volume of
up to EUR 3bn as part of a previously announced plan to return unused
capital from the group's external growth budget from the period 2014 to
2016. The buy-back program is envisaged to start on February 17, 2017, and
to last no longer than 12 months. Allianz SE will cancel all repurchased
The full implementation of the share buy-back program as scheduled is
subject to maintaining a sustainable Solvency II ratio above 160 percent.
Furthermore, the Board of Management and the Supervisory Board have decided
to simplify Group capital management to make it more flexible. Going
forward, Allianz will return capital to its shareholders on a flexible
basis, rather than following a formulaic approach. Return of capital to
shareholders will no longer be coupled to the unused budget for external
growth and a three-year timeframe.
Munich, February 16, 2017
These assessments are, as always, subject to the disclaimer provided below.
Information and Explanation of the Issuer to this News:
Cautionary note regarding forward-looking statements
The statements contained herein may include prospects, statements of future
expectations and other forward-looking statements that are based on
management's current views and assumptions and involve known and unknown
risks and uncertainties. Actual results, performance or events may differ
materially from those expressed or implied in such forward-looking
Such deviations may arise due to, without limitation, (i) changes of the
general economic conditions and competitive situation, particularly in the
Allianz Group's core business and core markets, (ii) performance of
financial markets (particularly market volatility, liquidity and credit
events), (iii) frequency and severity of insured loss events, including
from natural catastrophes, and the development of loss expenses, (iv)
mortality and morbidity levels and trends, (v) persistency levels, (vi)
particularly in the banking business, the extent of credit defaults, (vii)
interest rate levels, (viii) currency exchange rates including the
euro/US-dollar exchange rate, (ix) changes in laws and regulations,
including tax regulations, (x) the impact of acquisitions, including
related integration issues, and reorganization measures, and (xi) general
competitive factors, in each case on a local, regional, national and/or
global basis. Many of these factors may be more likely to occur, or more
pronounced, as a result of terrorist activities and their consequences.
No duty to update
The company assumes no obligation to update any information or
forward-looking statement contained herein, save for any information
required to be disclosed by law.
16-Feb-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de