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    IVL1L   LT0000102279

INVALDA INVL, AB

(IVL1L)
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Delayed Nasdaq Vilnius  -  05:54 2022-09-22 am EDT
11.40 EUR    0.00%
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Invalda INVL completes the acquisition of life insurance business

07/01/2022 | 02:04am EDT

Invalda INVL, the leading asset management group in the Baltics has developed into an investment management and life insurance group having successfully completed the acquisition of Mandatum Life's life insurance business in the Baltics.

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

“We aim to be the first and best choice for our customers when it comes to their long-term financial security and investments. The growing portfolio of assets under management  enables us to increase our investment activity in the Baltic economies and international markets. We are very grateful to the Mandatum Life team for their impressive business development and professionalism throughout this process.This transaction enables a number of synergies and wider opportunities to accelerate INVL’s expansion in all three Baltic countries," commented Darius Šulnis, President of Invalda INVL.

INVL Life, a company established by Invalda INVL which is taking over the insurance business acquired, has an authorised capital level of EUR 48 million, which represents the largest authorised capital holding among life insurance companies registered in the Baltic States. Furthermore, INVL Life has obtained the first life insurance company licence in Lithuania in the last twenty years.

“This has been a year of close co-operation with Invalda INVL, and we are happy, that the closing processes has been completed smoothly. We have always been proud of our customers' satisfaction with our services and the professionalism of our staff, and the clients can still enjoy them, now combined with Invalda INVL‘s local knowledge. Invalda INVL is commited to developing the business, and it can offer synergies for the 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.

INVL Life, after obtaining all the necessary licences and permits from the Baltic and Finnish supervisory authorities as of 1 July 2022, took over Mandatum Life's Baltics life insurance business operations, which were carried out through its branches in Lithuania, Latvia and Estonia, with over 29,000 customers and assets totalling EUR 150 million as well as with its employees, commercial contracts and other assets and liabilities.

INVL Life is managed by Rasa Kasperavičiūtė who has led Mandatum Life's Lithuanian branch. R. Kasperavičiūtė also serves as Chairwoman of the company's Management Board. On the INVL Life's Management Board, Kasperavičiūtė is accompanied by Vytenis Lazauskas, Group CFO and Martynas Samulionis, INVL’s Managing Partner for the INVL Sustainable Timberland and Farmland Fund II.

By combining INVL Group's 30 years of investment experience with Nordic life insurance expertise and traditions in the Baltic region, INVL helps people to safeguard both their own and their loved ones' financial welfare and security 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 cover, such as critical illness and accident insurance in all Baltic countries.

The person authorised to provide additional information:
Darius Šulnis
President of Invalda INVL
E-mail darius.sulnis@invl.com

 


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Financials
Sales 2021 53,7 M 52,2 M 52,2 M
Net income 2021 37,5 M 36,4 M 36,4 M
Net cash 2021 9,28 M 9,02 M 9,02 M
P/E ratio 2021 5,43x
Yield 2021 3,82%
Capitalization 135 M 131 M 131 M
EV / Sales 2020 4,99x
EV / Sales 2021 3,55x
Nbr of Employees 459
Free-Float 11,5%
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Managers and Directors
Darius Őulnis Chief Executive Officer & Director
Raimondas Rajeckas Chief Financial Officer
Alvydas Banys Chairman
Tomas Bubinas Independent Director
Indre MiÜeikyte Director
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