Insurance firm Allianz reported a record group-wide net profit in 2005, almost double the previous year.
The insurer made a net profit of €4.38 billion in 2005, just ahead of analysts expectations.
Allianz, which is streamlining its operations on a pan-European scale to boost efficiency and profit, said in a statement that it intended to pay a dividend of €2 per share for 2005.
Net profit in the group's banking business soared to €1.039 billion from €126 million in 2004, boosted by capital gains from selling stakes such as in mortgage lender Eurohypo.
"The demand for retirement provision and asset management products was once again the growth driver worldwide," Allianz CEO Michael Diekmann said in statement.
Allianz said it was aiming for 10 per cent growth in operating and net profit in 2006.
Allianz had already provided much financial data in December in documents to support its merger with its Italian subsidiary RAS, which shareholders approved last month.
The RAS buyout is part of Allianz's effort to streamline its European operations, boosting efficiency and profit.
Allianz shares closed up 1.25 per cent at €136.84 yesterday. They have gained some 40 per cent since the start of 2005, in line with the rise in the DJ Stoxx European insurance index.