The Czech Republic, Hungary, Poland, Slovakia and Baltic states have been included in the same business area.
Previously, Romania was part of the insurer’s Central and Eastern Europe business area, alongside Serbia, Ukraine, Bosnia, Russia and other states.
On November 1, 2010, MetLife bought insurer Alico. Following the transaction, Alico Asigurari and Alico Pensii Pensii became affiliated to MetLife.
Alico Asigurari de Viata underwrote premiums of 205.03 million lei (EUR46.9 million) in 2010, and is ranked third on the local market after ING Asigurari de Viata and BCR Asigurari de Viata.
Alico Pensii operates on the mandatory private pension segment (Pillar II) and registered assets of RON494.96 million at the end of February.
At the end of January 2012, MetLife signed an agreement to take over London-based insurer Aviva’s businesses in Romania (insurer Aviva Asigurari de Viata and pension fund Aviva Pensii Private), the Czech Republic and Hungary.
The transaction must be approved by insurance regulators and is expected to be completed during this year.
Aviva Asigurări de Viata is ranked fifth on the Romanian insurance market with a market share of 5.34% and underwritten premiums of RON88.9 million at the end of 2010.
Aviva Pensii Private operates on both the mandatory private pension segment and the voluntary private pension segment (Pillar III).
MetLife operates on the life and general insurance market. (EUR1=RON4.3718)