Aviva: private pensions market to attract 600,000 people

Life insurance company Aviva intends to be one of the top two players on the market of private pension funds, estimating that 600,000 people will apply for an optional private pension in the first few years. “We are hoping that very good strategic positioning and our competitive offer will persuade a large number of people to come to us,” stated Shah Rouf, chief executive of Aviva Asigurari de Viata (Aviva Life Insurance). He explained that the company did not have a clearly established budget, but that it would invest as much as it needs to in order to achieve one of the top positions on the private pensions market – taking into account the fact that Aviva handled gross underwritten premiums worth over 8 billion pounds worldwide. “We entered the market in 2000 with a clear objective – to be pioneers on the private pensions market.” According to an Aviva Romania study conducted in 2006, over 35% of the respondents expressed their interest towards private pensions. The insurer last year handled gross underwritten premiums worth 63.9 million RON (18 million euros), up 30.7% in RON against the level witnessed in the previous year. Assets rose by 31.23% in 2006, with their value reaching 134.6 million RON (38.2 million euros).