ALLEANZA FY PROFIT WILL BREAK 400M, SAYS CEO

Italian insurer Alleanza will see full year profit of more than €400m, according to CEO Ugo Ruffolo, cited in Il Sole 24 Ore . The figure would compare with a gain of €425m last year, although this included a one-off gain. In October the company had targeted a full-year profit of between €360m and €385m. Mr Ruffolo told the newspaper that prospects for 2008 were excellent, with a net profit target of €500m. He said that premium income should rise to about €6bn. This will be higher than last year, but lower than in 2006, because the company changed its bancassurance venture with Intesa Sanpaolo.