Announcement is hereby given that “INVL Life”, uždaroji akcinė draudimo bendrovė (previously – „INVL Life“ UADB, code 305859887, legal address: Vilnius, Gynėjų g. 14, Lithuania) („INVL Life“) which operates in Estonia through its branch – “INVL Life”, uždaroji akcinė draudimo bendrovė Eesti filiaal (registry code 16456570) transfers all the rights and obligations under all valid life insurance contracts concluded in Estonia to Gyvybės draudimo UAB “SB draudimas” (a private limited liability company, legal entity code 110081788, registered address Laisvės pr. 3, Vilnius, Lithuania (“SB Draudimas”) which will operate in Estonia through Gyvybės draudimo UAB “SB draudimas” Eesti filiaal (registry code: 16836083, legal adress: Keemia 4, Tallinn, 10616, Estonia).
For the avoidance of doubt, vast majority of the valid life insurance contracts in Estonia were originally entered into by Mandatum Life Insurance Company Limited (registration number 0641130-2, legal address: Bulevardi 56 00120, Helsinki, Republic of Finland), acting in Estonia through Mandatum Life Insurance Company Limited Eesti filiaal (deleted from the register; registry code 14330066) and on 30 June 2023 these contracts were transferred from Mandatum Life to INVL Life.
On 31 October 2023 a consent of the Bank of Lithuania for INVL Life to transfer its life insurance business, including life insurance business carried out through its branch in Estonia to SB Draudimas was obtained. As of the moment of this announcement hereof INVL Life and SB Draudimas have also satisfied other conditions for the above-mentioned transfer of the rights and obligations to SB Draudimas.
Therefore, all the rights and obligations of INVL Life under all valid life insurance contracts concluded in Estonia shall be deemed transferred to SB Draudimas as of 1 December 2023, provided that the conditions precedent needed for implementation of transfer are complied with in accordance with the Master Agreement, regarding merger of a part of “Invalda INVL” businesses with Šiaulių bankas entered into by AB “Invalda INVL” and its group companies on one side and AB Šiaulių bankas and its group companies on the other side and dated 22 November 2022.
The terms and conditions of the insurance contracts do not change as a result of the transfer of the insurance portfolio.
If you have any questions regarding the transfer of the insurance portfolio, please contact INVL Life by phone at +372 6 812 300 or by e-mail at [email protected].
