AEGON, closer to the Romanian market
AEGON Asigurari de Viata has received the registration certificate from the National Office of Commerce at the end of May. Also, the insurer won the initial constitution notice by the Insurance Supervisory Commission, thus remaining to submit, soon, according to market sources, the final file for the final authorization.
The interest of the Dutch group for the Romanian market has manifested since 2006.
Having EUR 2 billion available for expansion and possible acquisitions, AEGON aims to grow its clients' base with over 40% in Hungary, Poland, Czech Republic, Slovakia, Romania and Turkey, according to declaration made by Alex WYNAENDTS, the new CEO of the life insurance and pension company from Hague.
Thus, AEGON hopes to win 2.5 million customers in Central and Eastern Europe by 2010, against the aging population phenomenon and the reforms in national pension systems.
Most business to be concluded will be small compared with the insurers' capacity, given that in this region acquisitions worth EUR 200-300 million are considered very important, added Alex WYNAENDTS.
The intention of expanding in Central and Eastern Europe manifested by AEGON has the background of an intensifying competition in the insurance and pension markets in the region, with entrances of the Western European groups in the territory.
Author: Alexandru CIUNCAN
on 10.06.2008
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