AVIVA filed for a second voluntary pension fund license
AVIVA Life Insurance filed the necessary documentation to CSSPP to get it’s second voluntary pension fund (3rd pillar) authorized - a higher-risk profile, growth fund, Shah ROUF, CEO of AVIVA Group in Romania, told www.privatepensions.ro.
"We wanted to have a second fund available for out clients, this time with a more dynamic investment profile, to meet our customers’ needs. We can already see the supply being diversified on the voluntary pensions market, process which includes the soon-to-come launch of our second fund", Shah ROUF said.
After it receives its license, AVIVA’s new high-risk voluntary pension fund could be the third one of its kind on the market, in the same league as AZT Vivace (managed by ALLIANZ-TIRIAC Private Pensions) and EUREKO Activ, the high-risk fund managed by INTERAMERICAN Pensions, also in authorizing procedures. After these licensing procedures, the Romanian voluntary pensions market could see four fund managers with two funds each: ING Life Insurance, ALLIANZ-TIRIAC Private Pensions, AVIVA Life Insurance and INTERAMERICAN Pensions and four managers with one fund each: BCR Life Insurance, OTP Garancia Insurance, RAIFFEISEN Asset Management and ASIROM Concordia.