Allianz remains on the prowl for M&A targets: CEO Bäte
Allianz remains ready to grow via further mergers and acquisitions and is constantly reviewing would-be targets for the proper fit to the group’s current profile, CEO Oliver Bäte (pictured) said during his company's Capital Markets Day Friday, December 3.
"It is not like we are not looking at investments," Bäte said. "In this current environment, we simply haven’t found a transaction that would fulfil our requirements."
Asked on the split in capital deployment between M&A and share buy-backs, Bäte warns on volatility from what is necessarily an opportunistic approach.
"It depends where you are in the cycle," the CEO said. "We will be very disciplined in M&A. At any point in time it can be lumpy.” He added: “Buyback is the running choice “as long as our share price is our own best buy.”
Allianz will restrict its view to growth options for its current corporate profile. Major transformational deals are ruled out, the CEO said.
"We are focused on systematically building the franchise, whether in P&C, life or asset management," Bäte said.
"In the long-run we want to grow the company more," CEO Bäte said. "If we can invest in profitable growth, we believe we should do that."
Allianz's last major acquisition was Aviva's life and asset management operations in Poland.
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