Allianz subsidiary Riunione Adriatica di Sicurta (RAS) has reported that its net profit for the first nine months reached E637 million, representing a year-on-year improvement of 10.2%.

Consolidated premium income for the year, including investment contracts written in the life business, amounted to E12.3 billion, an increase of 5.5% from the year before. These figures were significantly aided by a 7.6% rise in life premiums.

RAS chief executive officer Paolo Vagnone said of the results: We achieved solid earnings growth in the first nine months of 2005 compared with the year-earlier period. In the absence of currently unforeseeable extraordinary events, we expect to close 2005 with a strong improvement on 2004 net profit. Furthermore we intend to maintain our dividend policy for financial year 2005.