The company’s current general manager Frans van der Ent will remain member of the executive board. Radu will also hold a similar position.
Radu joined Eureko Asigurari four years ago as operations manager and deputy general manager. Since 2009 she has been coordinating the health insurance department within the National Union of Insurance and Reinsurance Companies in Romania (UNSAR).
Dutch insurance group Aegon announced recently it would take over Eureko’s life insurance and pension business in Romania, further strengthening Aegon’s position in the Central and Eastern European region.
The transaction is expected to close in the second half of 2013, pending regulatory approval. Eureko’s Romanian life insurance portfolio and pension fund business will be integrated into the operations of Aegon Romania.
Following the transaction, Aegon Romania will become the country’s third largest pension provider, with approximately 650,000 pension fund members, and its life insurance portfolio will become one of the ten largest in the country.
Pension fund Eureko Pensii registered net assets of 539.3 million lei () at the end of last year. It had 439,599 contributors on the mandatory private pension segment (Pillar II) and net assets of RON3.2 million, and 3,713 contributors on the voluntary private pension segment (Pillar III).
Eureko Pensii had a market share of 5.6% on the Pillar II segment in 2012, and of 0.53% on the Pillar III segment.
Aegon has been active in Romania since 2007 and also has operations in Hungary, Poland, the Czech Republic, Slovakia and Turkey. Moreover, Aegon recently announced its entrance into Ukraine with the acquisition of the fifth largest life insurance company in the country. (EUR1=RON4.3771)