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Invalda INVL and Mandatum Life Insurance Company Limited signed a business acquisition agreement today. The company established by Invalda INVL will take over the Baltic life insurance business. The transaction is scheduled to be completed by mid-2022, as soon as the Baltic and Finnish regulators have issued all necessary licenses and permits.
In Latvia, the Invalda INVL Group operates through the subsidiary IPL of the subsidiary INVL Asset Management, which provides clients with 2nd and 3rd tier pension accumulation services.
“This transaction will allow us to offer financial security and welfare solutions that are even more suitable for each client’s needs. By expanding the range of services we offer in Latvia, we are trying to strengthen our position in long-term savings and personal finance management,” said Darius, President of INVL. Shit.
In addition, he noted that the addition of the Mandatum Life Baltic team will strengthen and expand the INVL Group’s competence in the field of investment and life insurance.
“The increase in assets entrusted by private and institutional investors to the Invalda INVL Group for management, together with the largest team in the Baltics working with these assets, also allows us to increase investment in companies and businesses operating or operating in our” domestic market “. “The investment management and life insurance business has a lot in common, so we believe that the transaction creates value for all stakeholders,” said Šulnis.
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