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UK Royal & Sun Alliance Insurance takes over Lietuvos Draudimas
Danuta Pavilenene, BC, Vilnius, 03.11.2011.
Print version
Print versionOn Wednesday, Great Britain's Royal & Sun Alliance Insurance took over the majority shareholding of Lithuania's largest non-life insurance company Lietuvos Draudimas.
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Royal & Sun Alliance Insurance belongs to the same international insurance company RSA as the previous shareholder Codan A/S, reports LETA/ELTA.
RSA, which is one of the oldest and largest insurance companies worldwide, runs Lietuvos Draudimas indirectly since 2006, after buying the Danish Codan A/S. Thus, the deal is only a formal change of shareholders within the group.
Lietuvos Draudimas employs about 1,200 people in Lithuania. The company's has over a third of non-life insurance market share in the country. This year, the largest insurance company in the entire Baltic region marks its 90th anniversary.
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