Sovcombank Life (formerly MetLife)

History

2020: Sovcombank bought MetLife

In early December 2020, Sovcombank announced the purchase of the MetLife insurance company. The transaction, the cost of which is not disclosed due to the provisions of the confidentiality agreement, is planned to be closed in the first quarter of 2021 after receiving approvals from the Central Bank of the Russian Federation and the Federal Antimonopoly Service.

After completion of the transaction, MetLife Insurance Company JSC will change its name. Exactly what it will be called is unknown by December 2, 2020. After closing the deal and receiving the necessary approvals, Zhanna Goncharova, who worked at MetLife for more than 15 years, will be appointed president of the company.

Sovcombank acquired MetLife

The chairman of the board of directors of the company will be Igor Lappi, CEO of Sovcombank Insurance (the new name is Liberty Insurance), who has a successful experience in integrating a number of large companies included in the Sovcombank group.

According to Dmitry Gusev, Chairman of the Board of Sovcombank, thanks to the acquisition of MetLife, the credit institution will receive competencies in world-class life insurance, 25 years of experience in the Russian market and will expand the range of non-credit financial products.

We are confident that the infrastructure and competencies of MetLife, imposed on the scale and expertise in the integration of the acquired companies of Sovcombank, will give an equally impressive result. Sovcombank is well acquainted with MetLife in Russia since the bank is a client and partner of the company for 12 years, we look forward to the moment when we can welcome MetLife employees as part of our group. We will make every effort to make the transition of MetLife to the Sovcombank group as smooth as possible for employees and customers, "said Gusev, whose words are quoted in the bank's message[1].

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