The first stage of the merger was approved by CSSPP in September 2012.
Romania’s mandatory private pension fund (Pillar II) market registered 5.77 million contributors at the end of 2012 and net assets of 9.64 billion lei (EUR2.2 billion).
Pensia Viva had over 432,000 contributors and net assets of RON662.96 million. Alico registered 386,912 contributors and net assets of RON682.4 million at the end of December 2012.
In August 2012, London-based insurer Aviva announced it had completed selling its life insurance operations in Romania, Hungary and the Czech Republic to the local subsidiaries of U.S. insurer MetLife, represented in Romania through Alico Asigurari.
By acquiring Aviva Asigurari de Viata, MetLife also took over Aviva Pensii and Aviva Consulting&Training.
Aviva Pensii is also present on the voluntary private pension segment (Pillar III), with the Pensia Mea fund, which had 10,292 contributors and assets of RON28.56 million at the end of last year, according to CSSPP data. (EUR1=RON4.3667)