We assisted asset management group Invalda INVL in completing the acquisition of Mandatum Life’s Baltic insurance business. Mandatum Life is one of Finland’s largest life insurance companies, which also operates in the Baltics through branch operations across Lithuania, Latvia, and Estonia.

INVL will now be able to offer both existing and new clients additional tailored products and investment solutions to meet their variety of needs. The growing portfolio of assets under management enables us to increase our investment activity in the Baltic economies and international markets.

INVL Life, after obtaining all the necessary licenses and permits from the Baltic and Finnish supervisory authorities as of 1 July 2022, took over Mandatum Life’s Baltics life insurance business operations, which were carried out through its branches in Lithuania, Latvia, and Estonia, with over 29,000 customers and assets totalling EUR 150 million as well as with its employees, commercial contracts and other assets and liabilities.

Our services and the project team

We assisted the client on all the transaction-related matters.

This transaction is unique in that INVL Life had to obtain a life insurance company license before taking over the insurance business. This was the first life insurance company licence in Lithuania in the last twenty years.

Our team consisted of partners Mantas Petkevičius and Tomas Kontautas, counsels Jurgita Karvelė and Pirkko-Liis Harkmaa, senior associates Mindaugas Baniulis, Agnė Sovaitė, Aurelija Daubaraitė and Maris Simulis.