News
ANNOUNCEMENT REGARDING TRANSFER OF INSURANCE PORTFOLIO
2012-06-22
Dear clients of Akcinė draudimo bendrovė “ERGO Lietuva” whose insured risks are situated in Estonia
Please be informed that in a view of the changes introduced by ERGO group aiming at consolidation of its non-life insurance business in the Baltic States, Akcinė draudimo bendrovė “ERGO Lietuva” (registration number: 110012799, with registered address at Geležinio Vilko g. 6A, Vilnius, Lithuania) (ERGO LIT) and “ERGO LATVIJA” Apdrošināšanas akciju sabiedrība (registration number: 40003131253 with registered address at Ūnijas iela 45, Riga LV-1039, Latvia) (ERGO LV) is planned to be merged with Estonian company to ERGO Kindlustuse Aktsiaselts (registration number: 10017013, with registered address at A. H. Tammsaare tee 47, Tallinn, 11316, Estonia) (ERGO EST). ERGO EST will continue its insurance activities as European Company (SE) and under the business name of ERGO Insurance SE with the registered address and head office at A. H. Tammsaare tee 47, Tallinn, 11316, Estonia. Insurance activities in Latvia and Lithuania will be continued by the branches of ERGO EST to be established in Latvia and Lithuania.In accordance with Section 92 of the Estonian Insurance Activities Act thereof, ERGO LIT hereby notify that on 10 May 2012 the Bank of Lithuania has issued a pre-merger permit, and in this way consented to the non-life portfolio transfer (the Portfolio Transfer) from ERGO LIT to ERGO EST as a result of the cross-border merger (the validity of this pre-merger permit will be confirmed once again by the Bank of Lithuania by issuing a merger permit).
The Portfolio Transfer will come into effect on the completion of the cross-border merger and registration of the establishment of the SE at the Commercial Register of Estonia. Notification on the completion of the merger (and thus also Portfolio Transfer) will be published separately.
As a result of the Portfolio Transfer all the rights and obligations arising from insurance contracts concluded by ERGO LIT, will be transferred to ERGO EST. Concluded insurance contacts remain valid and unaffected, i.e. the nature and scope of the rights and obligations (including insurance cover and terms and conditions) under the insurance contracts will not change as a result of the transfer.
Policyholders having a valid insurance contract with an insured risk located in Estonia may terminate the insurance agreement concluded with ERGO LIT by submitting respective termination notice to ERGO LIT within one month as from publication of this notice, i.e. by 31 July 2012 the latest. Termination notice should be sent to administravimas@ergo.lt. Upon expiration of the termination term stated above, it is deemed that the policyholder consents with the transfer of rights and obligations deriving from the insurance agreement.
The insured risk is situated in Estonia if:
1) the object of insurance is an immovable situated in Estonia, including construction works or construction works and their contents, in so far as the contents are covered by the same insurance policy or
2) the object of insurance is entered in an Estonian register and a corresponding licence plate is attached to the object, where the insurance relates to vehicles of any type, or
3) an insurance contract covering risks related to travel services for a duration of four months or less has been entered into in Estonia, or
4) the policyholder who is a natural person has his or her habitual residence in Estonia, or
5) the seat of the policyholder who is a legal person, as indicated in the insurance contract, is situated in Estonia.
Please contact ERGO LIT in writing (Akcinė draudimo bendrovė “ERGO Lietuva”, Geležinio Vilko g. 6A, Vilnius, Lithuania) or by e-mail (administravimas@ergo.lt), if you have any questions regarding the Portfolio Transfer or possible termination of your insurance contract.
