The regulator said in a statement that it approved a series of decisions which mark the finalization of merger between Pensia Viva, as the absorbed fund, and Alico, as the absorbing fund. The first stage of the merger was approved by CSSPP on August 29, 2012 and the second stage was approved on January 30, 2013.
Following the merger, pension fund Alico reached a total 822,420 participants and doubled its share on the mandatory private pension fund (Pillar II) market, from 6.8% to 14%, the regulator also said.
Pillar II market registered 5,83 million contributors and net assets of 10.3 billion lei (EUR2.3 billion) at the end of February.
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 10,271 contributors and assets of RON29.7 million at the end of February, according to CSSPP data. (EUR1=RON4.4143)