KD enters life insurance market

Slovenian KD Group will invest 7 million euros in the establishment of a life insurance company, KD Life, which will begin operations early next year. The Slovenians have other operations on the domestic market, such as an investment management company and a brokerage firm, pending licensing. “The share capital of the company will be 3.5 million euros, and the rest of the amount will be invested in the development of the business. We will probably receive the clearance to register the company with the Trade Registry over the next few days,” explained Ion Mincu-Radulescu, the chairman of investment management firm KD Investments. He estimates sales of about 1,500 insurance policies in the first year in business and underwriting of approximately one million euros. “I believe we will need no more than five years to recoup the investment in this company,” Radulescu stated. KD Life”s main product will be the unit-linked insurance policies, with the clients” money put in the funds managed by KD in Romania and in other countries where the group operates. ZF