Generali invests 45m euros in pension company

Generali has put 45 million euros (140 million RON) into the share capital of the mandatory private pensions (2nd pillar) company Generali Fond de Pensii (Generali Pension Fund), the company announced on Monday. The new company has recently been registered with the Trade Registry and has already applied for a licence as manager of mandatory private pensions. Generali is on the waiting list of companies to be licensed as managers of mandatory funds, along with another 14 companies. “The objective we have set for the new company is to attract over 300,000 participants to the pension fund, which would result in a 10%-12% share of the whole market,” says Ioan Vreme, general manager of Generali Fond de Pensii. With an initial share capital of 45 million euros, Generali will be one of the most capitalised pension companies on the market.