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March 28, 2015 9:28 PM ET

Insurance

Company Overview of AB Lietuvos draudimas

Company Overview

AB Lietuvos draudimas provides insurance services. The company offers compulsory third party motor liability insurance, CASCO insurance, home insurance, accident insurance, and travel insurance. 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 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."

Lietuvos Draudimas AB Reports Earnings Results for the First Half Ended June 2014

Lietuvos Draudimas AB reported earnings results for the first half ended June 2014. For the period, the company posted LTL 31.86 million in pretax profit, down 6.3% from LTL 34.013 million in the same period last year. Net profit shrank by an annual 16.2% to LTL 26.795 million, mainly due to a 2.5-fold annual increase in profit tax, to LTL 5.065 million.

Lietuvos Draudimas Reports Unaudited Earnings Results for the First Quarter Ended March 2014

Lietuvos Draudimas posted LTL 14.603 million (EUR 4.23 million) in unaudited net profit for the first quarter of 2014, down 10.5% from LTL 16.312 million in the same period last year. Profit from investment operations (bonds, equities and real estate) soared 2.5 times year-on-year to LTL 5.21 million. Non-life insurance premiums written rose by an annual 2.6% to LTL 92.542 million between January and March. Profit before tax fell by 4.8% to LTL 17.227 million, from LTL 18.09 million in the same period last year.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
April 17, 2014
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