November 18, 2017 / 12:55 PM / a year ago

Allianz well-shielded against takeover attempts: Boersen-Zeitung

FILE PHOTO: People arrive for the annual shareholders' meeting of Europe's biggest insurer Allianz SE, in Munich, Germany May 3, 2017. REUTERS/Michaela Rehle/File Photo

FRANKFURT (Reuters) - Allianz (ALVG.DE), the world’s fourth-largest insurer by market value, is well-protected against potential takeover attempts, its chief financial officer told a German paper.

“Whoever wanted to buy a company like Allianz with a market value of more than 85 billion euros ($100 billion) would still have to pay a premium, too. We are well-protected due to our size,” Dieter Wemmer told Boersen-Zeitung in an interview.

Friday’s closing price of 197.05 euros a share gives Allianz a market capitalization of 87.7 billion euros, according to Reuters data.

Sources told Reuters in September that China’s Anbang Insurance Group [ANBANG.UL] and HNA Group [HNAIRC.UL] both considered buying into Allianz this year as part of plans to become global financial powerhouses.

The separate talks, which were at an early stage and did not result in formal bids, were called off due to expected regulatory hurdles in Germany and China and the fact that Allianz showed little interest, the sources added.

“I seriously have no idea where this topic came from,” Wemmer told the paper when asked about this.

Reporting by Christoph Steitz; Editing by Hugh Lawson

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