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Insurer Allianz-SP takes over DSS

INSURANCE company Allianz-Slovenská poisťovňa bought 100 percent of the pension management company (DSS) Prvá dôchodková sporiteľňa (PDS), the SITA news agency wrote.

PDS pension management company was established in June 2004 by Prvá stavebná sporiteľňa. As of December 2, 2005 it managed Sk307.1 million (€8 million).

The pension management company Allianz-Slovenská dôchodková správcovská spoločnosť (Allianz-Slovenská DSS) originated as an affiliation of Allianz-Slovenská poisťovňa, which is the pension management company's sole shareholder.

Allianz-Slovenská DSS managed Sk2 billion (€52 million) as of December 2, 2005, which represents 26.4 percent of the total volume of contributions managed by all pension management companies in Slovakia.

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