PZU SA Group has signed a preliminary agreement to acquire 100% of the shares in MetLife Ukraine—the leader of the Ukrainian life insurance market—according to a statement from PZU Ukraine Insurance Company.
It is emphasized that the deal strengthens the PZU Group’s position in Central and Eastern Europe, expands its operations in the life insurance segment, and aligns with its strategy to become a regional leader.
“The acquisition of MetLife Ukraine is an important step in the implementation of our long-term strategy to build a strong international insurance and financial group in Central and Eastern Europe. We are investing in a market leader with an experienced team and a sustainable business model, which strengthens our presence in Ukraine and significantly expands the scale of our operations in the life insurance segment. This decision combines strategic ambitions with solid business fundamentals,” noted PZU CEO Bohdan Benchak.
Furthermore, this aligns with the Group’s strategy of expansion in Central and Eastern Europe, particularly in markets where it already has an established presence. The Ukrainian life insurance market remains relatively underdeveloped compared to other countries in the region, creating significant opportunities for further growth.
From a financial perspective, this transaction is also attractive for the PZU Group. MetLife Ukraine has a strong capital position, high profitability (approximately 20% ROE), and liquidity, which creates potential for dividend payments.
“For PZU Ukraine, the acquisition means a significant increase in scale, access to a sales network that complements PZU Ukraine’s existing network, expanded product capabilities, and an experienced team with a broad customer base,” the statement reads.
According to the information, the PZU Group has responsibly and proactively assessed the risks associated with investing in a country currently in a state of armed conflict. The investment is insured by KUKE (PFR Group), which provides protection against the negative consequences of a potential deterioration in the military or political situation.
“The PZU transaction is yet another foreign investment by a Polish entity in Ukraine that was guaranteed by KUKE this year. The absence of political and force majeure risks, particularly those related to military actions, creates potential for the safe development of our companies,” noted Janusz Władczak, President of KUKE.
Macroeconomic data indicate a high level of resilience in the Ukrainian economy, a gradual stabilization of inflation, and prospects for moderate GDP growth in the medium term, the statement emphasizes.
As previously reported, MetLife Ukraine is part of the leading global corporation MetLife. It has been operating in Ukraine since 2002 and is the leader in the Ukrainian life insurance market.
