Greco Steps Down as RAS Chairman

April 6, 2005

Mario Greco announced his resignation as Chairman of the Board of Management of Italian insurer Riunione Adriatica di Sicurtà S.p.A. (RAS). The company’s majority shareholder is Germany’s Allianz AG, which holds a 55.5 percent stake.

Mario Greco announced his resignation as Chairman of the Board of Management of Italian insurer Riunione Adriatica di Sicurtà S.p.A. (RAS). The company’s majority shareholder is Germany’s Allianz AG, which holds a 55.5 percent stake.

An announcement on the Allianz Website noted that the Administrative Board of RAS will reach a decision on Greco’s successor at its next meeting. Greco joined RAS in 1995, was appointed to the Board of Management in 1996 and became Chairman in 2000.

Allianz bulletin also noted that he had been “designated to join the Board of Management of Allianz AG in May 2005.” However it now indicated that he “will take up a new post outside the Allianz Group.”

Detlev Bremkamp, responsible for Europe II in the Board of Management of Allianz stated: “We would like to thank Mr. Greco for his significant achievements and wish him all the best for his career change in Italy.”

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