SB draudimas, a subsidiary of Šiaulių bankas, establishes branches in Latvia and Estonia
30 Maio 2023 - 11:00AM
SB draudimas, a subsidiary of Šiaulių bankas, establishes branches
in Latvia and Estonia
Šiaulių bankas group decided to establish branches of "SB
draudimas" in Latvia and Estonia. Decisions were taken in order to
properly implement the agreement concluded with Invalda INVL Group
on 22 November 2022 regarding the merger of part of the retail
businesses, after the implementation of which, Šiaulių bankas
group, in addition to the financial services it already provides,
will manage the second- and third-pillar pension and investment
funds in Lithuania and will expand life insurance business
throughout the Baltic States. The establishment of branches of "SB
draudimas" is necessary in order to properly prepare for the
transfer of INVL Life insurance services business in Latvia and
Estonia to "SB draudimas". It is planned that the established
branches of "SB draudimas" will continue the activities carried out
by INVL Life in Latvia and Estonia.
Additional information: Tomas Varenbergas Director of Treasury
& Markets tomas.varenbergas@sb.lt, +370 5 203 22 00
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