Allianz buyback needed to achieve 2018 target: Bernstein

Allianz's EUR3bn ($3.2bn) share buyback, the first in its
history, is likely to be a capital deployment strategy to ensure
the carrier achieves its 2018 financial targets, according to
Bernstein analyst Thomas Seidl.
Allianz announced the share repurchase programme late yesterday
alongside itsfourth-quarter results.
The firm said the move was part of a previously announced plan
to return unused capital from its external growth budget for the
period from 2014 to 2016.
In the future, Allianz will