SOCGEN invests over 7.5 million EUR in BRD Asigurari de Viata
The French financial group SOCIETE GENERALE will invest for starters EUR 7.5
million in BRD Asigurari de Viata, which is in the intentions of being lunched
on the Romanian market untill the end of this year, Damien MARECHAL, The General
Director of BRD Fond de Pensii quoted by MEDIAFAX, has declared.
The French are thus answering to the speculations that appeared in the last
period on the media, according to whom SOCGEN could be interested to renounce
to the plans regarding the setting up of BRD Asigurari de Viata, after selling
their participation of 25%, owned at ASIBAN.
"The two shareholders of BRD Asigurari de Viata will be BRD and SOGECAP
(the life insurance and pensions division of SOCGEN). We foresee a capital of
EUR 7.5 million", MARECHAL has declared.
Commenting on the process of authorization of the new life insurance company
Damien MARECHAL has declared that "at the time being we are at the step
of preliminary authorization. If the ISC decision will be a favorable one, we
will take into account starting the activity till the end of the current year".
MARECHAL has added that BRD Asigurari de Viata will not also sell private pensions
(Third Pillar), but will give this activity to BRD Fond de Pensii. "We
are in the middle of building a file for CSSPP, in this respect", the official
has declared. MARECHAL has stated that the new company will not be active on
the general insurance segment, but will have an activity linked strictly to
the life insurance segment.
The French form SOCGEN have declared for the first time their intentions to
settle a life insurance company on the local market in the month of September
of 2007, while lunching the mandatory pensions company (Second Pillar) - BRD
Fond de Pensii.
The local life insurance market exceeded last year EUR 447 million, gross premium
underwritings. The growth in EUR by comparison with 2006 was by 38.5%, over
the general insurance's rhythm.
Published on 18.04.2008
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