Dentons advised PZU Group on the signing of a conditional agreement to acquire a 100 percent stake in MetLife Ukraine, the leader of the Ukrainian life insurance market.
MetLife Ukraine is the largest life insurer in Ukraine – it serves approximately 900,000 customers and has nearly a 50 percent market share.
The transaction will strengthen PZU Group’s presence on the Ukrainian market by increasing the scale of its operations and providing access to a sales network, product capabilities and an experienced team with a broad customer base. The acquisition aligns with PZU Group’s strategy of building its position as a leader in the insurance and financial market in Central and Eastern Europe.
The investment is covered by insurance provided by Export Credit Insurance Corporation (KUKE), which protects against the negative effects of any deterioration in the war or political situation.
The completion of the transaction is subject to obtaining customary regulatory approvals.
Dentons’ cross-border team advising PZU was led by Poland Managing Partners Jakub Celiński and Paweł Grabowski and included associate Marcin Urbański and senior associate Paulina Galewska. Kyiv-based partner Volodymyr Monastyrskyy advised on the Ukrainian law aspects of the transaction, with support from Evgenia Prudko.
