Motieka & Audzevičius has advised VIENNA INSURANCE GROUP AG Wiener, the top player in the CEE insurance market, on the incorporation of the first group company, a non-life insurance insurer, in the Baltic States.
Our team has leaded the whole licensing and incorporation process from the beginning till end including drafting of the incorporation documents, preparing documents for licensing and dealing with the supervisory authority, the Bank of Lithuania.
By incorporation of a daughter company in Lithuania VIENNA INSURANCE GROUP will strengthen its positions in the Baltics insurance market. The first incorporation of the non-life insurance company in the Lithuanian market within the last 14 years and since the entrance of the EU has been quite challenging and has tested in practice harmonization of the financial markets regulations within the EU. Choosing Lithuania as a place of the insurance business headquarters is an indication that the Lithuanian market is attractive to foreign investors and might become a future trend in the Baltics financial markets.