Allianz Plans to Buy Back as Much as €2.5 Billion in Shares

Allianz SE, the German insurer which owns bond investor Pacific Investment Management Co., announced more share repurchases as Chief Executive Officer Oliver Baete returns excess cash to investors.

Allianz will buy back as much as €2.5 billion ($3 billion) in additional shares, it said in a statement on Wednesday. That adds to about €16 billion in buybacks the company has conducted since early 2017.