ALLEANZA SEES FLAT PROFITS FOR 2005

Italian assurer Alleanza, a subsidiary of locally based Generali, has said that it anticipates a full-year net profit for 2005 of between 350m euro and 400m euro, compared with a profit of 390m euro in 2004. New business was expected to total between 200m euro and 215m euro this year, up by between 10% and 15% on 2004. The company said that for 2005 it was focusing on “value creation” rather than just on premium growth. It said that it would focus on long-duration savings products with annual premiums.