July 26, 2016 11:06 AM ET

Insurance

Company Overview of AB Lietuvos Draudimas

Company Overview

AB Lietuvos Draudimas provides insurance solutions. It offers compulsory third party motor liability insurance, CASCO insurance, home insurance, accident insurance, and travel insurance solutions. The company was founded in 1921 and is based in Vilnius, Lithuania. As of October 31, 2014, AB Lietuvos Draudimas operates as a subsidiary of Powszechny Zaklad Ubezpieczen Spólka Akcyjna.

J. Basanaviciaus g. 12

Vilnius,  03600

Lithuania

Founded in 1921

Phone:

370 8526 66649

Fax:

370 8523 14138

Key Executives for AB Lietuvos Draudimas

AB Lietuvos Draudimas does not have any Key Executives recorded.

AB Lietuvos Draudimas Key Developments

Lietuvos Draudimas Announces Earnings Results for the First Half Year of 2015

Lietuvos Draudimas announced earnings results for the first half year of 2015. The company saw its first-half net profit plunge by 42.2% to EUR 4.485 million, from EUR 7.76 million in the same period last year. Total non-life premiums written this year increased by 12.5% to EUR 65.911 million.

Lietuvos Draudimas Announces Audited Earnings Results for the Year 2014

Lithuanian Insurance announced audited earnings results for the year 2014. For the year, net profit fall by 9.5% to EUR 10.5 million from EUR 11.6 million in 2013. Pretax profit of the insurer shrank by 5.1% to EUR 12.3 million, from EUR 12.9 million in 2013. Pretax profit from insurance operations fell by 34.3% to EUR 6.7 million while profit from investment operations soared twofold to EUR 5.8 million.

Lietuvos Plans To Acquire local Operations Of PZU

AB Lietuvos draudimas is planning to acquire local operations of Powszechny Zaklad Ubezpieczen Spólka Akcyjna (WSE:PZU). Kestutis Serpytis, Chief Executive Officer of Lietuvos Draudimas said, “We plan to take over all operations of the Estonian branch of PZU Lietuva, including the Estonian branch of RSA Codan Forskring acquired by Lietuvos earlier 2014."

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