EU – Baltic States, Financial Services, Insurance, Legislation, Mergers and take-overs

The company is headquartered in Lithuania and has branches in Latvia and Estonia. The Estonian branch will continue to operate under the Seesam brand, Seesam said.

The chairman of the management board of the recently merged company is Compensa Vienna Insurance Group CEO Deividas Raipa. Other management board members include CFO Nicolas Mucheri and head of the Estonian branch Andri Puvi. The Latvian branch is headed by Aigars Freimanis.

Vienna Insurance Group, a shareholder in the merged companies, sees long-term growth potential in the Baltics and has therefore made major investments in the region in recent years. According to the representatives of the Vienna Insurance Group, the merger of Compensa and Seesam will further strengthen the company's position in the region.

With the merger, Compensa Vienna Insurance Group took over all rights and obligations, customer contracts, insurance portfolios, employees and assets of Seesam Insurance AS in Estonia. All valid agreements remain valid under the conditions set forth in them and in accordance with Seesam's rules.

Compensa Services' Latvian and Lithuanian insurance agency companies also merged with Compensa Vienna Insurance Group.

After the merger, 390 people will work in the Lithuanian head office and 270 and 183 people in the Latvian and Estonian branch offices, respectively.