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NEWS - 28. August 2018 17:25

SEB will merge the Baltic life insurance companies into a European Company

27 August 2018, AS SEB Elu- ja Pensionikindlustus, registry code 10525330, registered address Tornimäe 2, Tallinn 15010, Republic of Estonia, AAS "SEB Dzīvības apdrošināšana", registry code 40003012938, registered address Antonijas iela 9, Riga, LV-1010, Republic of Latvia, and AB "SEB gyvybės draudimas", registry code 110076645, registered address Gedimino pr.12, Vilnius LT-01103, Republic of Lithuania, concluded a merger agreement with the aim to create a European Company (SE).

In accordance with the agreement, AAS "SEB Dzīvības apdrošināšana", the life insurance undertaking of SEB Latvia, will be the acquiring company, while AS SEB Elu- ja Pensionikindlustus and AB "SEB gyvybės draudimas" are the companies being acquired. As a result of the cross-border merger, AS SEB Elu- ja Pensionikindlustus and AB "SEB gyvybės draudimas", registered in Lithuania, will cease to exist as companies and "SEB Dzīvības apdrošināšana", the Latvian company, will become their legal successor. The planned name of the European Company is SEB Life and Pension Baltic SE.

After the cross-border merger, SEB Elukindlustus will continue to operate in Estonia as a branch of SEB Life and Pension Baltic SE. As a result of the merger, all assets and liabilities of SEB Life Eesti and SEB Life Leedu will be transferred to SEB Life and Pension Baltic SE’s respective branches in Estonia and Lithuania.

The aforementioned merger will have no effect on insurance agreements concluded by clients of AS SEB Elu- ja Pensionikindlustus or the rights of policyholders, insured persons, or beneficiaries.

The merger agreement was published on 28 August 2018

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