The local branch of the Dutch group Aegon is looking into the possibility of rolling into the Romanian general insurance market some time in the future, but this year will only focus on the life insurance segment, according to Gabor Kepecs, general manager with Aegon Central and Eastern Europe, NewsIn informs.
With respect to the idea of expanding into the private optional pension market (Pillar III), Kepecs explained that the company will be willing to take the step only when the economic and legislative environment is stable, referring to the government's decision to keep the contribution at 2 percent this year.

Aegon Asigurari de Viata started operating on the life insurance market today and aims to become one of the five largest companies on the Romanian life insurance market by 2014. The company is not interested so far in setting up a distribution network and the policies will be distributed through brokers and banks. The portfolio consists of unit-linked, risk and economies insurance policies.

Aegon Asigurari de Viata now has a share capital of 21.08 million lei and plans to increase it by 4.3 million euros. The main shareholder is Aegon Woningen Nova BV with 99 percent of the shares. It set up a partnership with Romanian lender Banca Transilvania and plans on developing more partnerships with other banks.

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