Allianz-Tiriac enters compulsory pensions market

Allianz-Tiriac Pensii Private (Allianz-Tiriac Private Pensions), the pensions branch of the insurance company of the same name, has submitted an authorisation request for the 2nd pillar
(compulsory pensions), which makes it the sixth company willing to enter the system, which will begin in August. The company has already had authorisation for the 3rd pillar (optional pensions), when it was given the green light for its first pension fund, AZT Moderato. The company is officially starting its sales campaign for this financial product today. The fund has a medium risk profile, and is investing 25% of the clients’ assets in shares
listed on the Stock Exchange, with the remaining assets being placed in fixed income financial instruments or in financial instruments on the monetary market. The company is waiting authorisation for a second fund, AZT Vivace, with a high-risk profile (50% investments in listed shares). Allianz-Tiriac Pensii Private is entering the race to gain optional pension clients with a sales force of over 2,200 individual marketing agents, having received the endorsement of the Private Pensions Commission last week.