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    LHV1T   EE3100073644

AS LHV GROUP

(LHV1T)
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Delayed Nasdaq Tallinn  -  08:59 2022-06-30 am EDT
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AS LHV : LHV to begin to conquer the insurance market occupied by foreign capital

05/10/2021 | 06:39am EDT

10. May 2021

LHV Kindlustus, based on Estonian capital, started the active offering of motor insurance this week, bringing a domestic alternative to the non-life insurance market occupied by foreign companies. At the same time, LHV Kindlustus has already started providing home insurance, as well as equipment and additional guarantee insurance.

LHV established an insurance company last year, and although the first insurance contracts were already concluded at the beginning of the year, the focus has been on product development and preparation. The takeover of the insurance portfolios related to LHV Pank and Euronics brought the first 128,000 clients to LHV Kindlustus. Now that the home insurance, motor third party liability insurance, and motor own damage insurance products are ready, the company is gaining real momentum.

According to Jaanus Seppa, Chairman of the Management Board of LHV Kindlustus, the goal of LHV Kindlustus is to repeat the success story of LHV Pank. 'LHV's values - to be simple, supportive, and effective - are exactly in the right place in insurance as well. Our goal is to offer the best insurance and the best service in the settlement of claims. Today, the non-life insurance market is dominated by foreign insurers with a market share of 90%. We have now brought a clear domestic alternative to our clients. Our company is owned by 13,000 Estonian people and businesses,' Seppa said.

'The clients of LHV Kindlustus are people who care about their property, peace of mind, quality of life, and loved ones. Just as we at LHV care about Estonia, the local environment, the economy, companies, and people. We believe that we can positively surprise and invite LHV's existing clients as well as all other people who want an insurance service that is caring, has good protection and the best service typical of LHV, to come and learn more about our offers,' Seppa explained.

LHV offers insurance in a simple and hassle-free manner. The products of the new company are made especially for Estonian people with their needs in mind and these offer a fairly wide range of protection.

In terms of vehicle insurance, the clients of LHV Kindlustus can choose between the packages of Super Kasko, Mega Kasko and Roheline Kasko in addition to motor third party liability insurance. While Super Kasko has everything a client needs and it is also possible to choose additional protections, Mega Kasko is a top product in the Estonian insurance market. The most environmentally friendly vehicles can have separate protection Roheline Kasko.

LHV offers home insurance to all interested parties, including home owners, clients living in rental homes or clients who are renting out their real estate. It is possible to choose between the Super Kodu, Mega Kodu, and Roheline Kodu packages. By choosing liability insurance, the whole family feels secure both at home and in the wider world.

LHV Kindlustus also offers equipment and additional guarantee insurance with various partners, as well as travel and purchase insurance for LHV bank card owners. Over the year, the domestic insurance provider will also place travel insurance and accident insurance for all Estonian residents on the market.

Additional information: lhv.ee/kindlustus

LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group's key subsidiaries are LHV Pank, LHV Varahaldus, and LHV Kindlustus. LHV employs over 560 people. LHV's banking services are used by nearly 274,000 clients, the pension funds managed by LHV have nearly 177,000 active clients, and LHV Kindlustus protects a total of 128,000 clients. LHV's UK branch offers banking infrastructure to 150 international financial services companies, via which LHV's payment services reach clients around the world.

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Disclaimer

LHV Group AS published this content on 10 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 May 2021 10:39:01 UTC.


© Publicnow 2021
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Financials
Sales 2021 136 M 143 M 143 M
Net income 2021 58,3 M 60,9 M 60,9 M
Net cash 2021 3 403 M 3 557 M 3 557 M
P/E ratio 2021 22,3x
Yield 2021 0,93%
Capitalization 1 147 M 1 199 M 1 199 M
EV / Sales 2020 -16,6x
EV / Sales 2021 -15,5x
Nbr of Employees 652
Free-Float 55,9%
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Madis Toomsalu Chief Executive Officer & Director
Meelis Paakspuu Chief Financial Officer
Rain Lõhmus Chairman-Supervisory Board
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