We advised the Norwegian non-life insurance company Gjensidige Forsikring on completing the sale of its business in the Baltics to ERGO International AG, a company that manages ERGO’s international business portfolio.
All conditions necessary for the completion of the transaction have been fulfilled according to schedule, such as the required regulatory approvals in Lithuania, Latvia and Estonia. In the upcoming transition phase, ADB Gjensidige will be integrated into ERGO by way of merger of the two companies.
Gjensidige has received proceeds of approximately EUR 99 million from the sale of ADB Gjensidige, based on the estimated equity for ADB Gjensidige as of 31 December 2025.
With this strategic acquisition, ERGO reinforces its market position as the third-largest insurance company in the region based on premium volume, building on ADB Gjensidige’s strengths as the sixth-largest non-life insurer locally. Under the sale agreement, the Gjensidige brand will remain in the Baltic insurance market until the end of the year and the completion of the merger of the companies.
Our team and services
We advised the client throughout the transaction and on all matters related to its completion, including obtaining approvals from the relevant competition and regulatory authorities (in Lithuania, Latvia, and Estonia) and ensuring compliance with the conditions set by the Competition Council for the completion of the transaction.
Our regional team consisted of partner Jonas Kiauleikis, senior associates Aliaksei Vashkevich and Linas Petronaitis, partners Daivis Švirinas, Sergej Butov, Tomas Kontautas, and Indrė Pelėdaitė, counsels Vitalija Impolevičienė, Stasys Drazdauskas and Irma Kunickė, associates Raminta Matulytė, Danas Šniutė, and Povilas Užkuraitis, as well as senior associate Marika Grunte and counsel Piibe Lehtsaar.
