Invalda INVL completes the acquisition of the life insurance business | Business Insurance

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Invalda INVL, the leading asset management group in the Baltics, has become a life insurance and investment management group after successfully completing the acquisition of Mandatum Life’s life insurance business in the Baltics.

INVL will now be able to offer new and existing clients additional customized products and investment solutions to meet their variety of needs.

“Our goal is to be the first and best option for our clients when it comes to their financial security and long-term investments. The growing portfolio of assets under management allows us to increase our investment activity in the Baltic economies and international markets. We are very grateful to the team at Mandatum Life for their impressive business development and professionalism throughout this process. This transaction allows for a number of broader synergies and opportunities to accelerate INVL’s expansion across the three Baltic countries.” commented Darius Šulnis, president of Invalda INVL.

INVL Life, a company created by Invalda INVL which takes over the acquired insurance business, has an authorized capital level of €48 million, which represents the largest share of authorized capital among life insurance companies registered in the Baltic States. Furthermore, INVL Life has obtained the first life insurance company license in Lithuania in the last twenty years.

“This has been a year of close cooperation with Invalda INVL, and we are happy that the closing processes have been completed smoothly. We have always been proud of our clients’ satisfaction with our services and the professionalism of our staff, and clients can still enjoy them, now combined with Invalda INVL’s local knowledge. Invalda INVL is committed to business development and can offer synergies for clients. Mandatum’s focus will be in Finland and also abroad with institutional asset management clients.” added Sanna Rajaniemi, senior vice president in charge of Mandatum’s Baltic operations.

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INVL Life, after obtaining all necessary licenses and permits from the Baltic and Finnish supervisory authorities as of July 1, 2022, took over the life insurance business operations of Mandatum Life in the Baltic, which were run carried out through its branches in Lithuania, Latvia and Estonia, with more than 29,000 clients and assets worth 150 million euros as well as with its employees, commercial contracts and other assets and liabilities.

INVL Life is headed by Rasa Kasperavičiūtė, who has headed the Lithuanian branch of Mandatum Life. R. Kasperavičiūtė also serves as the Chairman of the Board of Directors of the company. On the INVL Life Board of Directors, Kasperavičiūtė is joined by Vytenis Lazauskas, Group CFO, and Martynas Samulionis, INVL Managing Partner for INVL Sustainable Timberland and Farmland Fund II.

Combining INVL Group’s 30 years of investment experience with Nordic life insurance experience and traditions in the Baltic region, INVL helps people safeguard their own financial well-being and that of their loved ones at various stages of their lives. Among its services that include long-term investment and pension solutions, INVL already offers life insurance, investment life insurance and additional coverage such as critical illness and accident insurance in all Baltic countries.

The person authorized to provide additional information:
Darius Sulnis
President of Invalda INVL
Email [email protected]

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