BUSINESS

MetLife completes the acquisition of Aviva Romania

Insurance group MetLife, through affiliated company Alico Asigurari Romania, completed the acquisition of the local life insurance branch of British group Aviva, reads a press release. The transaction had been announced on January 30, 2012. The acquisition of Aviva’s pension operations in Romania, announced on the same occasion, is waiting for the approval of pertinent authorities. MetLife also appointed Carmina Dragomir as chief of Aviva Asigurari de Viata Romania, instead of Mihai Popescu, “who will have other career opportunities.” He currently coordinates the Operations Division of MetLife, Inc. group in Romania, within Alico Asigurari Romania. In her new position, Carmina Dragomir will secure the successful integration of Aviva life insurance operations with those of Alico Asigurari Romania. By expanding the customer base and distribution, MetLife consolidates its position in the top 3 largest life insurance companies in Romania, based on life and accident insurance premiums (according to data released by CSA for 2010), mentions the press release. “MetLife has been operating in Central Europe for 22 years, and this region represents a strategic market for us. We are delighted by this opportunity to expand our operations and consolidate our position on the Romanian market,” said Michel Khalaf, MetLife President for Europe, Middle East and Africa (EMEA).

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