VIENNA INSURANCE began selling voluntary pensions in Romania
ROMANIA. ASIROM CONCORDIA, member of VIENNA INSURANCE GROUP (VIG),
began selling voluntary private pensions (3rd pillar pension) last
week, official reporting published by the company shows. Thus, VIG
officially enters the Romanian voluntary pensions market. The fund
managed by ASIROM CONCORDIA has an average risk profile, just like the
majority of the funds in this market.
Romania's voluntary pensions market consists of 9 funds, 121,000 fund participants and net assets under management of 15 EUR mln. (data valid at the end of August). Until the end of the year, other 3 funds are waiting for the license from CSSPP (Romania's private pensions regulator), the participant base is expected to reach 200,000, and the volume of net assets is seen at 25 EUR mln.
