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May 30, 2015 1:34 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 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."

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.

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