“INVL Life”, uždaroji akcinė draudimo bendrovė (hereinafter referred to as “INVL Life”, registered at 305859887, legal address: Vilnius, “Gynj g. 14, Lithuania) operating in Estonia through its branch – “INVL Life”, “Uždaroji akcinė draudimo bendrovė Estonian branch (registration code 16456570) transferred all rights and obligations arising from life insurance contracts in force in Estonia to the company Gyvybs draudimo UAB “SB draudimas” (limited liability company, legal entity code 110081788, registered address Laisvs pr. 3, Vilnius, Lithuania (“SB draudimas”), which commenced operations in Estonia through the Estonian branch of Gyvybės draudimo UAB “SB draudimas” (registration code: 16836083, legal address: Keemia 4, Tallinn, 10616, Estonia).

For the sake of clarity, it should be pointed out that the majority of life insurance contracts in force in Estonia were originally concluded by Mandatum Life Insurance Company Limited (registration code 0641130-2, legal address: Bulevardi 56 00120, Helsinki, Republic of Finland), which operated in Estonia through the Estonian branch of Mandatum Life Insurance Company Limited (deleted from the register; registration code 14330066). 30.06.2022 these contracts were transferred from Mandatum Life to INVL Life.

On 31.10.2023, the Bank of Lithuania (BOL) gave its consent to INVL Life to transfer its life insurance portfolio, including life insurance business offered in Estonia through its Estonian branch, to SB Drudimase. At the time of the publication of the present notification, INVL Life and SB draudimas had also fulfilled the other preconditions necessary for the transfer of the aforementioned rights and obligations to SB draudimas.

As of 01.12.2023, all rights and obligations of INVL Life arising from all valid life insurance contracts concluded in Estonia shall be deemed to be transferred to SB draudimas. The transfer was carried out in accordance with the basic agreement concluded on 22.11.2022 between AB “Invalda INVL” and the companies of its group and AB Šiaulių bankas and the companies of its group, concerning the merger of part of the business of “Invalda INVL” with Šiaulių bankas.

The terms and conditions of the insurance contracts did not change as a result of the transfer of the insurance portfolio.

If you have any questions regarding the transfer of your insurance portfolio, please contact Artea Life Insurance by phone +372 6 812 300 or by e-mail [email protected].

Šiaulių Bankas has been operating for 30 years now and is a stably and consistently growing financial partner with a special focus on business and consumer financing solutions and life insurance. Until now, it has not offered retail services in Latvia (Estonia).

The Šiaulių Bankas group includes subsidiaries that work in leasing (SB Lizingas), renovation (SB Modernizavimo Fondas), life insurance (SB Draudimas), and real estate (SB Turto Fondas). The shares of Šiaulių Bankas have traded publicly since 1994 and in late 2006 were included on the Main List of the Nasdaq Vilnius stock exchange.

Šiaulių Bankas is open-minded, flexible and builds strong ties with its customers. Its distinctiveness lies in being closer to the customer, paying great attention to human relationships. The bank has a deep understanding of its customers, with their needs and situations, and makes decisions locally.

INVL’s employees and their know-how are an integral part of the agreement on the merger of the retail businesses of Šiaulių Bankas and INVL. Without them the agreement could not take place. Thus, the exceptional experience and strategies of the top professionals who manage INVL’s life insurance investment directions will remain.