Alliance Re announces results

Alliance International Reinsurance Pcl (ALL) reported its 9M07 results, posting a net profit of EUR 11.3 mln compared to EUR 1.4 mln in the same period in 2006 with EPS climbing to EUR 0.1656.

Gross premium income amounted to EUR 36.6 mln, up from EUR 31.6 mln in 9M06, representing an increase of 15.7%. The surge in the Company’s net profit is attributed to the fair value adjustment of the land held for investment amounting to EUR 13.8 mln.