Mandatum Life – Sale of Baltic Operations

We are advising Mandatum with the sale of their Baltic operations to the Lithuanian investment management group Invalda INVL. In connection with the transaction, the entire Baltic life insurance business of Mandatum Life will be transferred to the Invalda INVL group.

In recent years, Mandatum Life has succeeded in optimising its Baltic business for growth and building operational synergy for clients.

‘In the past year, Mandatum has reviewed its business strategies. The focus will be on the Finnish market and on wealth management in Finland and abroad with institutional clients. That is how we will provide our stakeholders with the greatest value. Our business in the Baltics has shown good results both financially and in great personnel and customer satisfaction numbers after its re-organisation. Invalda INVL’s offer came at the right time for the company’s strategic changes’, says Petri Niemisvirta, CEO of Mandatum Group.

The Baltic operations consist of three branch operations in Estonia, Latvia and Lithuania, which employ a total of 83 people. The branches offer their clients life insurances and unit-linked investment products.

The transaction is estimated to be completed during the first half of 2022.

The completion of the divestment is subject to authority approvals, such as from financial regulatory authorities.

Mandatum is one of Finland’s most solvent and respected financial companies and part of the successful Sampo Group. Mandatum offers its private, corporate and institutional customers comprehensive services for building wealth and preparing for the future.

Invalda INVL is a leading investment management group which is open and growing, invests with clients, and creates well-being for people through its work. The group’s companies, operating in Lithuania and Latvia, serve more than 240,000 individual and institutional clients, both regional and international, who have entrusted the Invalda INVL group with EUR 1.3 billion of assets for management in a variety of asset classes, including pension and mutual funds, individual portfolios, and private equity and other alternative investments.