On 4 May, the Aviva Life Insurance company announced its submission to the CSSPP of a request for authorisation to establish a private pensions company (pillar II), in accordance with Law 411/2004, making it one of the first companies in Romania to have taken this step.
On 4 May, the Aviva Life Insurance company announced its submission to the CSSPP of a request for authorisation to establish a private pensions company (pillar II), in accordance with Law 411/2004, making it one of the first companies in Romania to have taken this step.
"The launch of the future private pensions company, Aviva Company for Administration of a Private Pension Fund (Aviva Private Pensions), represents a turning point both for the Aviva company and the Romanian market in general. I am certain that current trends in this area will determine an increase in the degree of interest shown by Romanians in medium and long-term savings products, thus having a positive effect on the pensions and life insurance sectors of the Romanian market.
"It gives me great pleasure to announce the appointment of Adrian Allott as director general of the private pensions company (pillar II). Adrian has worked for Aviva since the beginning of 2003, in which time he has occupied the positions of financial and actuarial director and assistant director general (since the summer of last year)," stated Shah Rouf, director general of Aviva Life Insurance.
Adrian Allott is a member of the Institute of Actuaries of Australia and chairman of the Romanian Association of Actuaries. He has over 15 years' experience in the field, having worked during the course of that time in companies from New Zealand, Australia, The Philippines and Romania.
"Adrian Allott is one of the leading figures in the insurance industry in Romania, and his experience and expertise will be of great assistance to us in the setting-up of our new pensions company. I have no doubt that he will involve himself to a large extent in the best possible positioning of the Aviva company at the top of the private pensions market," added Shah Rouf, director general of Aviva Life Insurance.
Aviva will invest up to €100 million in this new pensions company, using all the know-how and experience gained from the markets in which it operates in order to achieve this. The British company is proposing to offer Romanians the opportunity to have a secure financial income in retirement, by contributing accessible amounts to a private pension plan.
Aviva will have at its disposal a sales team of over 20,000 marketing agents who will help the Romanians to understand pensions products and the way in which these can meet their specific needs.
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For further information:
Giliola Ignat
Telephone: 203 83 73
E-mail: giliola.ignat@aviva.ro
Notes to editors:
About Aviva
Aviva Life Insurance is part of the Aviva group, the largest insurance provider in Great Britain and one of the first life insurance companies to receive authorisation for its voluntary pension fund "My Pension" from the Oversight Committee for the System of Private Pensions (CSSPP).
The Aviva group is the market leader for pensions and life insurance products in Europe, occupying leading positions on the majority of the markets in which it operates; the pension fund administered by Aviva Poland was recently named as the highest performing in Central and Eastern Europe. The group administers €535 billion worth of assets, representing the money of over 40 million clients worldwide.
In Romania, Aviva has over 430,000 clients and has a presence in 19 towns and cities.