Банкеръ Weekly

Briefs

WE AIM AT BEING THE BEST, NOT THE BIGGEST

We intend to register the four types of pension insurance funds, provided for in the legislation, said Nikola Abadjiev, Executive Director of Neuton-Sila Pension Insurance JSC. The owners of out company have not yet made their decision for establishing a pension insurance fund, operating with the bonds, issued for the second wave of the mass privatization, but most likely we will be the only company, who will extend this facility to our customers, added Mr. Abadjiev.

Neuton-Sila is the eight licensed pensions insurance company. The State Agency for Insurance Supervision informed about its decision on Oct 26, but the official presentation of the newly licensed company was on Nov 1.

Neuton-Sila Pension Insurance JSC was established in February 1994. The major stockholders are eight professional trade unions and two or three legal persons. Curently Neuton-Sila is the third big in that area. The controlling stake of shares is held by Neuton Group - one of the biggest Czech non-banking institutions, operating in the sphere of investment banking.

Registered capital of Neuton-Sila Pension Insurance JSC amounts to BGL3MN. Many of its clients already receive either a life-long or a 5-year or 10-year pension.

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