News in Brief

Italian Q1 results

ALLIANZ Subalpina, a unit of Riunione Adriatica di Sicurtà (RAS), said that premiums in the first quarter of 2002 rose 2.2% to Euro170m while operating profits in the quarter climbed to Euro3.2bn, from Euro2.2bn in the comparable period a year ago. Non-life premiums rose 2.1% while life insurance premiums rose 3%. Among other Italian insurers providing first quarter indications, fellow Turin-based insurer Reale Mutua said that premiums in the first quarter of 2001 rose 12.33%. In particular, Reale Mutua saw life insurance premiums soar 58.3% while non-life premiums inched up 2.5%.