Eureko Confort is administered by Eureko Societate de Administrare a Fondurilor de Pensii Facultative, while Aegon Esential is administered by Aegon Pensii – Societate de Administrare a Fondurilor de Pensii Private.
The final authorization will be decided after informing all the participants on the modality and period for the development of the merger process and obtaining the majority’s approval.
On June 30, Eureko Confort fund had 3,731 participants, with assets worth RON5.59 million and a market share of 0.49%, according to ASF data.
Aegon Esential fund had 105 participants and net assets of RON10,000, after it became operational in May.
Last year, Dutch insurance group Aegon took over the life insurance and private pension operations of Eureko Romania, part of Dutch financial group Achmea, and integrated them into Aegon’s operations on the local market.
The takeover of the fund administered by Eureko Pensii Private brought Aegon approximately 472,000 clients, reaching 768,861 at the end of last year, from 263,990 a year before.
The company estimated that Aegon Pensii Private will administer assets of over RON2 billion at the end of 2015, due to an increase in contributions to mandatory private pension funds (Pillar II), to 5% from the current 4.5%, and tapping the segment of voluntary private pension funds (Pillar III).
Dutch insurance group Aegon opened its Romanian subsidiary at the beginning of 2008.