As of July 1, Mandatum has successfully completed the sales of its Baltic life insurance operations to Lithuanian investment management and insurance group Invalda INVL. The acquisition includes the employees, clients, commercial contracts, assets, and liabilities of Mandatum Life’s Baltic branches.
In June 2021, Mandatum announced, that it has signed an agreement with Invalda INVL to sell its Baltic operations. The acquisition has now been successfully completed. INVL Life, a company established by Invalda INVL, has now taken over Mandatum Life's Baltic life insurance business with over 29,000 customers and assets of EUR 150 million in Lithuania, Latvia, and Estonia. Rasa Kasperavičiūtė, the branch manager of Mandatum Life’s Lithuanian branch, has been appointed as the CEO of INVL Life, and a Chairperson of the INVL Life’s Management Board.
Additional information:
Mandatum:
Petri Niemisvirta, Chief Executive Officer, petri.niemisvirta@mandatumlife.fi, tel. 010 516 7200
Niina Riihelä, Senior Vice President, Marketing and Communications: niina.riihela@mandatumlife.fi, tel. +358 40 728 1548
Invalda INVL:
Darius Šulnis, President of Invalda INVL, darius.sulnis@invl.com
Kristina Malevskienė, Head of Communications, media@invl.com, tel. +370 6863 5626