The first contributions to pillar II: who won and who lost market share
ING, AIG and BCR are the administrators of the mandatory private pension funds (pillar II) that stood to win most from the contribution collection start which took place today. The three pension companies gained a significant market share, compared to the ranking according to the number of participants. ING strengthened its supremacy, AIG climbed up from the sixth position to the fourth and gained one percentage point in market share, and BCR climbed from the 8th to the 7th position, gaining 0.4 in market share.
CONCLUSION? Pension companies backed by a “rich” portfolio of life insurance clients, as well as companies that sold a lot through banks were winners, while administrators who focused strongly on sales through brokers had poor quality portfolios and saw their positions on the market threatened by the first wave of contribution collection.
Thus, ING reached a 38.3% market share according to the contributions (compared to 33.2% according to the number of participants), AIG went up from 6.3% to 7.3%, and BCR from 3% to 3.4%. The rest of the administrators registered either insignificant improvements in market share, or stagnation and even decreases. The biggest drop in market share in the ranking according to participants and contributions was seen at ALLIANZ-TIRIAC Private Pensions, from 25.6% to 23.3%. GENERALI also lost market share, namely 1.4 percentages from 9.4% to 8%.
