Poland’s PZU Buys MetLife Ukraine in Postwar Reconstruction Bet

Poland’s biggest insurance company PZU SA agreed to buy MetLife Inc.’s Ukrainian unit, marking a significant expansion into the war-torn market as Warsaw seeks a leading role in the country’s reconstruction.

The state-controlled insurer has agreed to purchase Ukraine’s top life insurer, which holds a nearly 50% share of the local market, for an undisclosed price, it said in a statement. MetLife Ukraine, which serves around 900,000 clients posted a profit of 21 million euro ($25 million) last year.