Asirom prepares to manage voluntary pensions

Asirom, an insurance company controlled by Austrian group Vienna Insurance, will enter the market of voluntary pensions this year, through Asirom-Concordia, a company where it holds over 99% of shares. Asirom-Concordia was set up in 1997, and operated as an insurance company until the end of last year, when the shareholders decided to switch to managing voluntary pension funds. On the insurance market, Asirom-Concordia was one of the smallest players. In 2006, the company ranked thirty-sixth (last from bottom) with gross underwritten premiums worth around 77,000 euros (271,000 RON). At the end of 2007, the company transferred its portfolio of insurance policies to Asirom. “Concordia was set up from the outset as a voluntary pension manager, but, in order not to waste time until legislation in the field was finalised, it operated on the insurance market,” said the general manager of Asirom, Boris Schneider. According to him, in a few weeks’ time, Asirom Concordia could secure the necessary approvals from the Private Pension Supervision Commission, and the sale of voluntary pensions will start in the first half of this year.