Dunav sets up voluntary pension fund

The National Bank of Serbia (NBS) has granted the Dunav voluntary pension fund (VPF) a permit to operate. The National Bank of Serbia (NBS) issued a pre-registration permit, working permit and a permit for organizing and ... More

Ardaf transaction intermediated by Raiffeisen Capital&Investment

The EUR 35 million transaction through which PPF Investments took over from Tender Timisoara the majority package of insurer Ardaf was intermediated by Raiffeisen Capital&Investment. Also Transgaz Medias announced that it ... More

UK insurers prefer Romanian motor insurance market

Six insurance companies based in UK announced their intention to sell third-party motor liability policies (RCA) in Romania, Insurance Overseeing Commission (CSA) President Angela Toncescu announced yesterday. This will ... More

Big players to bid for DDOR

Companies interested in buying DDOR Novi Sad Insurance include the European leaders in the market. “No one has yet dropped out of the competition. Potential buyers that have applied for the tender in December 2006 are ... More

Former DZI suitor to set up insurance business in Bulgaria

France's Groupama is among 12 EU insurance companies that have notified Bulgaria's financial regulator over the past month of plans to enter the local market. The latest batch of candidates, which includes outfits from ... More

Two Italian and two French insurers to start business in Romania

Italian insurers Aurora Assicurazioni Spa and Sace BT Spa recently notified the Insurance Surveillance Commission (CSA) of their plans to operate on the Romanian market. A major player in Italy, Aurora Assicurazioni Spa ... More

"Zepter osiguranje" changed name into "Uniqa"

Insurance company "Zepter osiguranje" has changed its name into "Uniqa", which is an important step towards integration of that company into the leading Austrian insurance group. Brand "Uniqa" is present all over Europe ... More

Austria's Wiener Staedtische buys 60% stake in Bulgarian insurer Bulstrad

Austria's Wiener Staedtische has secured the approval of Bulgaria's financial regulator to acquire a 60% stake in local insurance company Bulstrad, said Guenther Geyer, chairman of the Wiener Staedtische board. The Bulgarian ... More

Insurance company "Triglav" submitted request for founding of pension fund in Serbia

Insurance company "Zavarovalnica Triglav", with the members of group "Triglav" - "Društvo za upravljanje" and "Kopaonik" insurance company from Belgrade, has handed over the request for registration of Company for management ... More

Pension and Disability Insurance Fund of Serbia to found a bank

The Administrative Board of the Pension and Disability Insurance Fund of Serbia has made the decision on founding micro bank that would approve credits to craftsmen and the owners of small and mid-sized enterprises who settle ... More

BT and Aegon launch private pensions, life insurance company

The Dutch-based insurance company Aegon and Romania’s Transilvania Bank (BT) have signed an agreement for establishing a private pensions and a life insurance company, the two financial institutions said in a press release. ... More

City of Sofia to sell 56% stake in Municipal Insurance Company

The Sofia Municipal Privatisation Agency is seeking to hire a consultant for the privatisation of 56% of the capital of the Municipal Insurance Company (MIC). The bid receipt deadline is March 19. The tender documents can be ... More

Slovenian "Triglav" to found pension fund in Serbia

"Triglav" insurance company will submit request today (January 15, 2007) to the National Bank of Serbia for issuing of license for founding of company for the pension funds management. "Triglav" will found the company for ... More

Private pension system to become operational this year

The Private Pension System Monitoring Commission (CSSPP) will begin to draw up the secondary legislation, namely the application norms for the Law on privately managed pension funds, so that by the end of 2007 the first ... More

Allianz Enters Slovenian Insurance Market

One of the world's biggest insurance companies, the Allianz Group, has begun marketing its services on the Slovenian market. The Austrian subsidiary of the group offers Slovenian customers life insurance products. The company ... More

EU accession attracts new insurers to Romania

Similarly to modifications in the insurance markets of neighbour states having joined the European Union in 2004, as of this year several hundreds of foreign competitors are expected to enter the local market. The latter are ... More

Bulgaria licenses new life insurance company

Bulgaria's financial regulator has licensed KD Life to operate as a life insurance company. KD Life, co-owned by Slovenian financial holding KD (95%) and insurer Slovenica Zivljenje, will sell life, annuity and unit-lined ... More

Insurance market to reach EUR 1.6 bln this year, might double until 2011

The insurance market will increase by 33 per cent this year, to EUR 1.6 bln, and until 2011 the value of the subscriptions from the insurance contracts will rise to EUR three bln, declared yesterday in a press conference Mihail ... More

Israeli Clal Insurance enters Romanian insurance market

Israeli insurance company Clal Insurance Enterprises Holdings received the authorization from Committee of Insurances Observation CSA to enter the Romanian market. The local subsidiary was named Clal Romania ... More

Social security contribution threshold raised for '07

The maximum monthly income on which social security contributions will be charged is set at 1,500 levs for '07, slightly higher than the 1,400 levs proposed by the National Social Security Institute. The parliamentary budgetary ... More