PZU has entered into a conditional agreement to acquire 100% of the shares in MetLife Ukraina. The company is the largest life insurer in Ukraine, with a 50% market share. MetLife Ukraina offers individual and group life insurance, health and accident insurance, and employee benefits schemes. It sells its services through brokers, agents, and banks. It serves approximately 900,000 active customers.

See also: Erste's website in Poland is now up and running. See what's changed

The PZU Group had already been operating in our eastern neighbor through PZU Ukraina. The acquisition of MetLife represents a significant expansion of the Group’s operations, providing access to a sales network that complements PZU Ukraina's advanced product expertise and an experienced team with an extensive customer base.

The acquisition is in line with the group’s strategy to expand in Central and Eastern Europe. As stated in the press release, the transaction is also financially attractive. MetLife Ukraina has a strong capital position, high profitability (around 20 percent), and liquidity, which secures the ability to pay dividends. The transaction value has not been disclosed.

See also: Trade Republic is introducing 24/7 customer support provided by advisors

The investment is covered by insurance provided by KUKE (Export Credit Insurance Corporation), which protects against the adverse effects of any deterioration in the military or political situation.