Aegon plans to become market leader via takeovers

"Our owners want to implement the project next year. However, they are not interested in taking over a small fund. They want to have a minimum of a 5% share in the market which means the takeover of two or three small open pension funds," declared the president of Nationwide TUnZ Michal Biedzki. According to Puls Biznesu sources Aegon has already submitted an offer for PTE Skarbiec-Emerytura which has a 2.9% share in the market in terms of assets. As regards Nationwide, the investor's plans assume that within five years the company is to jump from the fifth to the third position on the market. The company plans to widen its offer and develop its distribution network. "We want to concentrate on products with a regular premium and widen our customer base. We will also begin to sale new products such as investment products connected with loans," declared Biedzki. The company has already collected zl.715 million in premiums and increased its forecast for this year to zl.900 million. However, after the first three quarters of the year the net loss of the company amounted to zl.8 million. (Puls Biznesu, pp. 1, 7) E.B.