No more competition? Super of Pensions gives the green light to the operation of a new AFP



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Ignacio Álvarez, former managing director of AFP Cuprum, is one of the founding partners of the new entity.

A new AFP device could soon be on the market. The Superintendency of Pensions (SP) has issued the provisional authorization certificate so that the procedure of legal incorporation as a joint stock company can be opened on AFP UNO SA

The new entity has for founding partners, Ignacio Álvarez Avendaño, known around the world. the pension administrators, since she was managing director of Cuprum and the company Tanza SpA, who submitted the application on 3 July.

According to the regulations in force, from the date of issue of the provisional certificate, the new company has a maximum period of 10 months to carry out the required procedures and ask the authority to control to authorize the existence of the new AFP system, authorization necessary for the start of its activities.

As specified in the feasibility study, the new director has an initial capital of $ 4,800 million, divided into 480 million shares of the same series, registered shares without par value .

It also states that the provisional board of directors incorporated by Mario Ignacio Álvarez Avendaño, Jose Pedro Donoso Pinto, Sebastian Lira Cruz, Bernardita Piedrabuena Keymer and Felipe Eduardo Aldunate Anfossi. The last two as independent directors, who will have respectively substitute Verónica Mies Moreno and María Pía Aqueveque Jabbaz.

The main shareholders of Tanza SpA are Mario Ignacio Álvarez Avendaño, with 55% of the property, and Isabel Margarita Said Somavía, with 10%. The rest of the shareholders own less than 10% of the shares of the company.

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