ING Asigurari de Viata entered the optional pension market with the low risk ING Clasic fund, which has attracted over 700 subscribers. ING Optim has the same risk profile but unlike other funds on the market it guarantees net contributions.
Allianz-Tiriac is introducing the high risk profile AZT Vivace fund, which will invest some 45-50 percent in listed shares. The company entered the optional pension segment with a medium risk fund, whose profile indicates that only 25 percent of assets can be invested in shares.
Main players on the optional pension market are ING, Allianz-Tiriac, Aviva and BCR Asigurari de Viata. CSSPP recently authorized the insurance company OTP Garancia as an optional pension fund administrator. Concerning the mandatory private pension fund segment, CSSPP yesterday approved Ernst&Young Assurance Services as financial auditor and authorized the activity of OVB Broker de Pensii Private. Prior to this approval there were nine authorized brokerage companies: Fincop, AAV, Astop, Etica Finance, Filas, Crefo, SE Fond, Fehu, and Banat Fim, which were established specially for intermediating mandatory private pension products.
According to Interamerican, leader on the Greek insurance market, the optional private pension market in Romania might attract 250,000 subscribers in 2007, whose contributions are estimated at €27 million. The assets administered by the funds may total €26 million.Companies ] Main players on the optional pension market are ING, Allianz-Tiriac, Aviva and BCR Asigurari de Viata. CSSPP recently authorized the insurance company OTP Garancia as an optional pension fund administrator.
