MetLife, Inc. has acquired Aviva's life insurance and pensions business in Romania and its life insurance business in the Czech Republic and Hungary. The deal should be carried through in 2012 and its financial details have not been disclosed.

"MetLife is intent on investing and growing in high-potential markets," said Michel Khalaf, MetLife's President for the Europe, Middle East and Africa (EMEA) region, "and this transaction creates an excellent opportunity to reach more customers with a broader product and service offering, and further build scale in our existing operations in these countries."

MetLife owns the Alico Insurance and pensions business in Romania, which it bought in November 2010.

Aviva Life Insurance recorded a gross written premium volume of EUR 21.1 million in Romania in 2010, a decrease of 12 percent from 2009.The company ranks among the top players on the Romanian market.

Corina Saceanu, corina@romania-insider.com

(photo source: Aviva)