On 18-th of May, Seesam and Compensa were granted authorisation for merger

[18.05.2020 :]

Seesam Insurance AS, Compensa Vienna Insurance Group, ADB, Akciju sabiedrība “Compensa Services” and AB „Compensa Services“ cross-border merger.

On 18-th of May 2020, Estonian Financial Supervision Authority granted Seesam Insurance AS (registered in the Estonian Commercial Register, code: 10055752, address: Maakri tn 19/1, Harju maakond, 10145 Tallinn, Estonia; Seesam) and Compensa Vienna Insurance Group, ADB (registered in the Lithuanian Register of Legal Entities, code: 304080146, address: Ukmergės St. 280, Vilnius, Lithuania; Compensa) authorisation for cross-border merger (Merger).

In addition, on 18-th of May 2020 Estonian Financial Supervision Authority granted Seesam approval for the transfer of Seesam's insurance portfolio to Compensa.

Upon completion of the Merger, Seesam, as an separate legal entity, will cease to exist and all its assets, rights and obligations will be transferred to Compensa.

It is preliminary intended to complete the Merger by 1 July 2020.

Upon completion of the Merger, Compensa will continue acting in Estonia through Compensa Vienna Insurance Group, ADB Eesti filiaal, code: 12970620, registered address: Maakri 19/1, Harjumaa, 10145 Tallinn, Estonia (Compensa Estonian branch) and in Latvia through Compensa Vienna Insurance Group ADB Latvijas filiāle, code: 40103942087, registered address: Vienības gatve 87H, Riga, LV-1004, Latvia (Compensa Latvian branch).

Compensa continues to operate in Estonia under the Seesam brand.

In the course of the Merger:

• the Estonian business of Seesam (consisting of contracts, assets, insurance portfolio, employees, other rights and obligations) will be transferred from Seesam to Compensa Estonian branch;
• the Latvian business of Seesam (consisting of contracts, assets, insurance portfolio, employees, other rights and obligations) will be transferred from Seesam Insurance AS Latvijas filiāle, code: 40103475609, registered address: Muitas iela 1, Riga, LV-1010, Latvia (Seesam Latvian branch) to Compensa Latvian branch, and
• the Lithuanian business of Seesam (consisting of contracts, assets, insurance portfolio, employees, other rights and obligations) will be transferred from Seesam Insurance AS Lietuvos filialas, code: 302677744, registered address: Ukmergės g. 280, Vilnius, Lithuania (Seesam Lithuanian branch) to Compensa.

After the Merger, the Seesam Lithuanian branch and the Seesam Latvian Branch will cease their activities and will be de-registered from public registers. At that point in time these branches will have no assets and liabilities.

After the Merger the data of Compensa Latvian branch and Compensa Estonian Branch will not change.

If you need additional information, do not hesitate to contact info@seesam.ee or +372 628 1876.