JPM advises MetLife on withdrawal from Serbia

On 1 February the liquidation of insurance company MetLife Serbia was finalised.

The liquidation was the final step in MetLife’s withdrawal from the Serbian market. MetLife’s withdrawal phase from the Serbian market started two years ago by execution of the Portfolio Transfer Agreement with Wiener Städtische osiguranje Beograd.

This was the very first portfolio transfer between two operating insurance companies in Serbia.

This portfolio transfer was followed by transfer of remaining MetLifе’s portfolio to Generali Srbija Beograd, consisting of Yearly Renewable Term (YRT) Life and Yearly Renewable Term Life with accelerated Permanent Total Disability (YRT-PTD) insurances, after which MetLife transferred whole of its portfolio in Serbia.

JPM Senior Partner Jelena Gazivoda and Partners Aleksandar Hadzic and Nikola Đorđević advised MetLife in all phases of its departure from Serbia.