Allianz not considering share buybacks now -CEO

FRANKFURT Fri Aug 2, 2013 5:37am EDT

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FRANKFURT Aug 2 (Reuters) - ALLIANZ is not considering buying back its own shares at the moment, Chief Executive Michael Diekmann told a conference call with journalists on Friday.

Chief Financial Officer Dieter Wemmer also told the call the company expects a hit of around 200 million euros ($264.67 million) from a hail storm in area of Baden-Wuerttemberg late last month. The storm is estimated to have caused 40,000 residential damage claims and a further 40,000 car damage claims at Allianz.

($1 = 0.7557 euros) (Reporting by Jonathan Gould; editing by Edward Taylor)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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