Allianz SE (AZ), Europe's largest primary insurer by market capitalization "isn't in active talks" to buy assets of American International Group Inc. (AIG), Allianz Chief Financial Officer Helmut Achleitner said Wednesday.

The insurer, which sold Dresdner Bank to Commerzbank AG (CBK.XE) in January, is currently focusing on organic growth, Achleitner said at the annual shareholders meeting.

However, Allianz wouldn't generally rule out acquisitions, Achleitner said.

Earlier Wednesday, Chief Executive Michael Diekmann told shareholders that the likelihood of acquisitions will be higher in the coming years than in 2009.

Company Web site: www.allianz.com

-By Ulrike Dauer, Dow Jones Newswires; +49 69 29725 500; ulrike.dauer@dowjones.com