Aviva, a provider of life and pension products, has entered into an agreement to purchase 99.8% shares of Certinvest, a Romanian asset management company, from Eugen Voicu, the CEO of Certinvest and the Romanian-American Enterprise Fund, a private US corporation.

Certinvest manages approximately E24 million in four open-ended funds and also offers individual investment accounts for high net worth individuals.

Tidjane Thiam, CEO of Aviva Europe, said: This acquisition is part of our European strategy to continually adapt our range of long-term savings products and services to meet our customers’ needs. This acquisition confirms our clear ambitions for growth in Romania and more broadly in central and eastern Europe.