PZU Group acquires MetLife Ukraine

Poland-based PZU Group  entered into a conditional agreement to acquire 100% of the shares of MetLife Ukraine, the largest life insurer in Ukraine with an estimated 50% market share.

MetLife Ukraine serves around 900,000 active customers and offers individual and group life insurance, health and accident coverage, and employee benefit programs through brokers, bancassurance partnerships, and agent networks. The acquisition expands PZU’s life insurance operations in Central and Eastern Europe and strengthens its position in Ukraine, where PZU already operates through PZU Ukraine.

PZU said the deal aligns with its strategy to build a regional insurance and financial group across Central and Eastern Europe. The insurer also highlighted the financial profile of MetLife Ukraine, citing profitability of around 20%, strong capitalization, and liquidity.

The investment is backed by political risk insurance from KUKE, part of the Polish Development Fund Group, covering risks tied to the ongoing war and political instability in Ukraine.