Europe's biggest insurance company - Allianz will raise its dividend payout by 17 per cent after returning to profit. Dividend for 2009 was raised to €4.10 a share, from €3.50 a share for 2008.

Net income from continuing operations, excluding the sale of Dresdner Bank last year, was 1.09 billion euros ($1.47 billion), compared with a 145 million-euro loss posted a year earlier.

The Operating profit of Munich-based insurer more than doubled to €2.05 billion in the September-December quarter, taking the full-year figure to €7.18 billion; revenue for the same period rose 10.7 per cent to €25.5 billion. The decline property and casualty insurance was offset by a growth in asset management and a return to profit in life and health insurance segment.

"With regard to key figures for the fiscal year 2010, we believe that our operating profit will be at the same level as 2009," CEO Michael Diekmann said.

Dutch insurer AEGON didn't declare dividend, but did beat market expectations with a profit of €393 million in the fourth quarter, as compared to a loss of €1.18 billion a year ago.