Italian insurer RAS has achieved its targets for written premiums in 2005, according to a release from parent Allianz. RAS saw consolidated gross premiums written in 2005 increase by 1.7% from the prior year.
The company witnessed strong premium growth in all areas, especially in the areas of Property and Casualty insurance in Italy which rose by 2.3% and Life New Business from its agents and financial advisor network which increased 30.7%.
The year also saw a surge in performance by its RasBank subsidiary, mainly in the last part of the year, with net inflows gaining 27.1%.
RAS CEO Paolo Vagnone said the results met expectations: We closed 2005 in line with our targets. All our lines of business achieved growth, supported by the strong performance of the agents and financial advisors networks. With these positive inflows we expect to report a significant improvement in profitability compared with 2004.