Change of leader on Romania's voluntary private pension market
ING Life Insurance became last month the new leader of Romania's voluntary private pension market (pillar III), based on the administered net assets, taking over this position from BCR Life Insurance, according to a survey conducted by the www.privatepensions.ro portal. ING has already become the largest voluntary private pension administrator based on the number of participants to its funds, taking this position from ALLIANZ-TIRIAC Private Pensions. The fight is close at the top, with many changes of positions in the ranking.
Last week, ING experienced an increase in the net assets of the voluntary pensions administrated (in its two funds), going from RON 13.57 million to RON 15.15 million, while BCR, former leader, experienced an increase in the administrated assets from RON 13.6 million to RON 13.74 million. ALLIANZ-TIRIAC maintained the third position, followed by AVIVA and OTP Garancia. BCR Prudent, managed by BCR Life, remains the market's largest fund, according to the volume of administered net assets.
