Medas to take over Metropol

Insurer Mediteranea Assicurazioni (Medas) is to take over the 12,000 life insurance policies held by Metropol, the Romanian-based insurer that filed for bankruptcy. “Some of those policies have expired, but since the ensured amounts of money have not been paid, some are suspended, with requests for redemption filed for others. We looked thoroughly into the portfolio and we found it viable. We are looking to reactivate the policies,” Neculai Arsene, general manager of the company, said. Metropol is held by Italian businessman Leopoldo Buonanno, who controls 86% in Medas capital (36bn ROL). ZF