Today, the Council of the Oversight Committee for the System of Private Pensions (CSSPP) gave notice of a modification to the authorising documentation for the Aviva Administration Company for a Private Pension Fund SA.
Today, the Council of the Oversight Committee for the System of Private Pensions (CSSPP) gave notice of a modification to the authorising documentation for the Aviva Administration Company for a Private Pension Fund SA. By means of this notice, the CSSPP approves the appointment of Eugen Voicu to the position of director general of the Aviva Administration Company for a Private Pension Fund SA.
Eugen Voicu has been appointed to this post, replacing Adrian Allott, who, as of 1 February 2008, is devoting himself to consultancy work.
Eugen Voicu will also keep his position as director general of Certinvest SAI. Alongside this position, he will also hold the post of Director of Investments in the pension company.
Eugen Voicu is 50 years old and is a graduate of the Faculty of Economic Sciences at the Babeş-Bolyai University in Cluj-Napoca. He has a remarkable career in the financial sector.
In 1994, Eugen Voicu established Certinvest SA which today is one of the key players in the market, administering four open investment funds and a significant number of individual portfolios. Eugen is a shareholder and a founder member of SSIF Intercapital Invest and International Leasing; between 1999 and 2003 he was general secretary of the National Union of Leasing Societies in Romania, and between 2003 and 2007 vice president of the National Union of Collective Placement Organisations.
On 17 January 2008, the CNVM authorised intervened modifications in the way in which Certinvest Investments Administration Company SA is organised and operating as a result of a modification in the structure of the shareholder base following its acquisition by Aviva International Holdings Ltd. This modification amounted to 99.82% participation of its social capital or of the total number of those with voting rights in the investments administration company.
Thus Aviva becomes the majority shareholder in Certinvest SAI; the CNVM's decision marks the conclusion, to all intents and purposes, to the process of acquisition of Certinvest by Aviva.
Certinvest's acquisition by Aviva represents an inspired fusion of the most experienced asset administration company in Romania with the most experienced life insurance and pensions provider in the world.
-ends-
The point of contact for further information:
Giliola Ignat, Advertising & PR Manager
Telephone: 021 203 83 73
E-mail: giliola.ignat@aviva.ro
Note for editors:
About the Aviva group
Aviva is the oldest insurance group in the world and the largest in Great Britain, dating back to 1696. Today, Aviva has 59,000 employees and 40 million customers in 27 countries across the world.
The group is the market leader for life insurance and pensions in Europe, leading on the majority of the markets in which it operates.
Aviva has revenue from insurance premiums and investments totalling €61 billion and administers over €535 billion worth of funds.**
Aviva Romania
Aviva Romania includes three companies: Aviva Life Insurance, Aviva Administration Company for a Private Pension Fund, Certinvest (purchased on 13 September 2007).
About Aviva Life Insurance and Aviva Administration Company for a Private Pensions Fund
Aviva began operating as a provider of life insurance in Romania in 2000 and currently insures over 430,000 customers.
On 26 July 2007, Aviva received approval from the Oversight Committee for the System of Private Pensions to set up a company to administer private pensions (Aviva Administration Company for a Private Pension Fund SA), and on 25 August received authorisation to administer its mandatory pension fund - Pensia Viva.
About Certinvest
Certinvest currently administers €24 million in four mutual funds, each of them based around a different type of investment: Intercapital - a shares fund, Capital Plus - a balanced fund, Orizont - a fixed-income (bonds) fund and Tezaur, a capital market fund. Certinvest also administers individual investment accounts.
Certinvest has shown throughout the years that it is one of the most dynamic and innovative administrators in the market. The company launched the first commission-free sales fund on the Romanian market (Tezaur) and the first bonds fund in Romania (Orizont). Certinvest is also proud to support the bull market for investment funds in Romania.
* in terms of new sales in 2006
** at an exchange rate of 1 GBP / 1.47 EUR