OTP Garancia, which is operating on this market segment, managed assets worth RON 0.173 million at the end of March. “Groupama wants to become a significant player on the optional pension market,” Denis Rousset, the company’s representative in Romania, told Business Standard.
The capital of the BT Asigurari was raised by €21.6 mln in January 2009 and by more than €55 mln last year. Groupama’s main targets in 2009 include the merger of the three insurance companies and the launching of the Groupama Asigurari brand.
At the end of last month, ten pension funds, managed by eight administrators, were operating on Pillar III. According to data centralized by the Private Pension System Supervisory Commission (CSSPP), Pillar III has over 162,000 participants. The net assets of funds on this market soared 10.24 percent from February, and 245 percent compared to March 2008, to €26 mln.
