So far in 2024, the insurer has bought 3,791,467 shares through share buy-back schemes
Allianz SE, the holding company for Allianz Group, yesterday (7 August 2024) confirmed that it will expand its total volume of share buy-back to €1.5bn (£1.26bn) for the 2024 financial year.
A share buy-back is where a company purchases its outstanding stock shares, therefore reducing the amount of available shares left in the open market.
Allianz SE intends to buy treasury shares in volumes of up to €500m (£420m) between mid-August and 31 December 2024.
This is in addition to the €1bn (£84m) volume of share buy-back the insurer already completed between February and July 2024.
The company will cancel all repurchased shares.
Headquartered in Munich, Germany, Allianz SE employs around 2,540 staff.
So far in 2024, the insurer has bought 3,791,467 shares through share buy-back schemes at an average price in euros of 263.75 (221.6p)
- Insurance Times has converted euro amounts using an exchange rate of £1 = €1.19 as at 1 August 2024.
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