Private pension fund Omniasig Pensii Private is planning to increase market share to 2-3% this year in order to move closer to the top five players. Manager Cristina Nitescu said Omniasig would do so by merging with or buying a smaller player on the market. At the moment, the company has a market share of 1.52% and 63,264 customers. Discussions with shareholders are currently taking place in order to define a strategy.
She added that, upon making a decision, the company would consider both the price per customer and the overall market share of the targeted fund. Nitescu explained that, the larger the number of customers was, the more effective the fund would be. The company increased share capital by 2.5% in February to 8 million EUR.
Sources on the market indicate that at least three pension funds on the Pillar II segment are currently negotiating the sale of their customer portfolio. The overall number of private pension customers is 4.15 million. Omniasig Pensii Private is controlled by TBI Holding with 90%. The remaining 10% is controlled by insurance company Omniasig.