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As a result of the merger, a single European company SEB Life and Pension Baltic SE, will consolidate the entire life insurance business into a single corporation . The new company will be headquartered in Latvia with branches in Estonia and Lithuania. The end of this merger process is scheduled for early 2019.
SEB Group currently has three separate life insurance companies in the Baltic countries: SEB Elu-ja Pensionikindlustus in Estonia, SEB Life Insurance in Latvia and ] SEB Life Insurance in Lithuania and SEB Life & Pension Holding Riga branch, responsible for several years of the supervision of the Life insurance and retirement savings in the Baltic countries
A draft merger agreement was submitted to the Latvian business register and information was submitted to the Financial Markets Committee and capital (FCMC) for branch opening projects in Estonia and Lithuania.
Currently SEB Life Insurance Latv Company Lithuania, Estonia and more than 198,000 customers. According to SEB representatives, SEB group life insurance companies hold a 27% market share in the Baltic countries.
"The merger of our company and our expertise will help us continue to grow but better targeted and more efficient. The merger project also gives us a strong positive impact on our day-to-day business and strengthens our competitiveness, also taking into account the increasing supervisory requirements that require additional investments, "said SEB Life Insurance Kristine Lomanovska
SEB representatives also noted that the merger process will not currently charge the customer on a daily basis – this will happen as before. The next collection of information will be provided once the registration process is complete and all necessary approvals have been received.
2017. SEB Life Insurance made a profit of 733.3 thousand euros last year, or 49.4% less than in 2016. Gross premiums SEB Life Insurance 2017. SEB Life Insurance belongs to Sweden SEB Trygg Liv Holding . SEB Life Insurance belongs to Sweden SEB Trygg Liv Holding . In 2005, SEB Group acquired 100% of the life insurance companies White Life shares, and since September 15, 2005 the company was named SEB Life Insurance .
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