AEGON aims Romanian life insurance market
After the success reported by AEGON in Central and Eastern Europe, the Dutch pension and insurance company intends to launch a life insurance company in Romania, headquartered at Cluj-Napoca, and it has already begun recruitments.
Having as much as EUR 2 billion available for development and acquisitions in the region, AEGON intends growing its clients' base up 40% in Hungary, Poland, Czech Republic, Slovakia, Romania and Turkey, according to Alex WYNAENDTS, the new CEO of the Hague based company.
Thus, AEGON hopes winning 2.5 million clients in Central and Eastern European region by 2010, in the context of a significant population aging and the national pension systems' reform.
"Most deals would probably be small in a region where acquisitions worth EUR 200-300 million are considered sizeable", Alex WYNAENDTS said, quoted by Reuters.
AEGON's extension plans for the CEE come in having as a background an intensifying competition on the pension and insurance markets between Western European groups which are all trying to strengthen their presence in the region.
Author: Andreea IONETE
on 04.04.2008
|
