KD Group invests in life insurance

Slovenian financial group KD Group intends to enter the life insurance market early next year. Expansion plans also include opening a brokerage firm, as well as the launch of a new mutual fund by yearend. “An initial assessment shows an insurance company requires 6-7 million euros to set up, if taking into account the current provisions of the law. We estimate revenues of up to one million euros for this company”s first year in business, which will provide unit-linked-type of services, with the possibility to invest in every European unit of the KD Group. As for the other projects, the investments amount to about one million euros,” stated Ion Mincu-Radulescu, KD Investments Romania”s general manager stated. KD is not considering the takeover of other insurance or brokerage companies, as its strategy for Romania is to broaden its financial service portfolio by investments from scratch. KD Investments manages the open-ended investment fund KD Maximus in Romania, a fund that primarily invests in fixed-income instruments. It will also launch KD Optimus by the end of August, a diversified fund, which emphasises fixed income instruments. ZF