Omniasig to Invest 10 Mln EUR in Private Pensions Business

F.A.
Ziarul BURSA #English Section / 14 iunie 2007

Omniasig has decided to invest over 10 million EUR in its private pension operations, according to a company press release. Omniasig Pensii plans to become one of the top three companies on the private pensions market and reach a 10-12% market share. For the mandatory private pensions market (pillar II), the company expects 350,000 customers, while for optional private pensions (pillar III), the company estimates 20,000 - 30,000 customers, according to Cristina Nitescu, CEO of the company.

Omniasig early this month submitted the first set of documents necessary for setting up a management firm for a privately managed pension fund and optional pension funds. The company on Tuesday the approval of the Private Pension Supervision Commission (CSSPP) to set up a private mandatory pension fund.

The majority shareholders of the new company will be TBI Holding and Omniasig - Vienna Insurance Group. Investment company TBI Holding is one of the main operators on the CEE markets and offers a wide range of specialized products. Both TBI Holding and Omniasig are members of Vienna Insurance Group, the leading Austrian insurance group operating in CEE.

www.agerpres.ro
www.dreptonline.ro
www.hipo.ro

adb