NPF Blagosostoyanie will acquire CJSC Aviva Insurance Company from Aviva plc, the NPF informed.
The transaction is expected to be finalized in H1 2013.
Aviva's Russian unit established 2005 focuses on the market of life insurance and pension provision services. Aviva is one of the largest non-captive providers of life insurance and pension coverage services.
NPF Blagosostoyanie is one of the largest non-state pension funds in Russia. For over 12 years, the fund is implementing Russian Railways' corporate pension fund scheme. For 9 months 2012, the fund's own property exceeded RUB 261 billion including pension reserves amounting to RUB 168.6 billion, pension accruals to RUB 75 billion.
The fund provides mandatory pension insurance services to 1.7 million customers, non-state pension insurance services to 1.16 million customers. About 284 thousand customers of the fund are paid non-state pension benefits under the fund's programs.