On 17 April 2007, the Aviva Life Insurance Company received its license to administer the Pillar III voluntary pension funds.
On 17 April 2007, the Aviva Life Insurance Company received its license to administer the Pillar III voluntary pension funds. In order to carry this out with the greatest security, transparency and propriety in the administration of pension fund assets, Aviva has signed a contract with BRD - Groupe Société Générale to deposit and hold voluntary private pension funds (pillar III). BRD - Groupe Société Générale is the first depositing company on the Romanian private pensions market authorised by the Council of the Oversight Committee for the System of Private Pensions (CSSPP).
The depositor of a private pension fund can only be a credit institution in Romania authorised by the National Bank of Romania or the branch in Romania of a credit institution authorised by a member state of the European Union or the European Economic Space, with accreditation from the CSSPP as a depositing company, to which all the assets of a voluntary pension fund are entrusted for holding in secure conditions.
"The depositing and holding contract that has been signed strengthens our over six year-old partnership with BRD - Groupe Société Générale. Aviva and BRD - Groupe Société Générale have signed up to the first banking insurance partnership on the Romanian market, and year on year collaboration between the two parties has intensified.
"Aviva has a pedigree of over 300 years and is the operator with the greatest experience in the field of insurance plans. Aviva is the number one in Europe for pensions and life insurance policies, and what we want is to help the Romanians to have a secure financial future," stated Shah Rouf, director general of Aviva Life Insurance.
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For further information:
Giliola Ignat
Telephone: 021 203 83 73
Notes to editors:
Aviva Life Insurance is a part of the Aviva group, the largest provider of insurance in Great Britain and one of the first two life insurance companies to have been authorised by the Oversight Committee for the System of Private Pensions (CSSPP) as an administrator of voluntary pension scheme funds.
The Aviva group is the number one for private pensions and life insurance policies in Europe. Aviva is the market leader on the markets in which it operates. In Poland, the pensions fund administered by Aviva has been named the highest performing in Central and Eastern Europe. The group administers 535 billion euros' worth of assets*, representing the money of over 40 million clients worldwide.
In Romania, Aviva has over 400,000 clients and agents and development centres in 19 towns.
* As at 31 December 2006