The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) has booked an annual surplus of $627,000 as the industry’s peak training body prepares to expand further into Asia and the Middle East.

CEO Joan Fitzpatrick says ANZIIF’s ongoing financial fortitude has allowed the institute to expand training and development and grow internationally, with its latest surplus comprising a 5% return for 2009.

“Last year was an uncertain time for the entire industry, so to achieve this outstanding result is very pleasing and a testament to the stability and security of the insurance sector in Australia and NZ and its focus on staff development and growth,” she said.

In coming months ANZIIF intends to expand its international presence by increasing professional development and membership services across Asia and the Middle East.

It will also extend existing online capability and initiatives such as Generation i for young professionals and the Careers in Insurance program.

One-time prospective merger partner the UK Chartered Insurance Institute last week reported a net surplus of £1.1 million ($1.8 million).