BTA established a subsidiary company – AAS BTA Baltic Insurance Company

To continue the successful implementation of the company’s operational expansion strategy and to structure administrative resources and processes aligned with the strategic vectors of business, BTA Insurance Company SE has finished reorganization and established a subsidiary company – AAS BTA Baltic Insurance Company (AAS – Insurance JSC).

The new enterprise is going to distribute insurance products in the Baltic States, with the current branches of BTA in Lithuania and Estonia becoming branches of the new enterprise, while the current enterprise registered as a European Company – BTA Insurance Company SE will pursue the expansion in other than Baltic European countries.

AAS BTA Baltic Insurance Company, likewise BTA Insurance Company SE, is registered in Latvia and its operation is monitored by the Financial and Capital Market Commission (FCMC). The sole shareholder of the subsidiary company is BTA Insurance Company SE.

According to the provisions of Article 350 of the Commercial Law of Latvia and regulations of Latvia Commercial Register on 1st of July in 2015 reorganization process of the company has entered into force as in result starting 1st of July operations in Estonia is monitored by AAS “BTA Baltic Insurance Company” acting through the branch in Estonia (currently the name of the branch is BTA Insurance Company SE Eesti filiaal, but it is in process of change).

BTA are going to keep to a conservative risk reinsurance policy, which will allow a steady development and ensure that liabilities to customers are always settled. BTA risk reinsurers are well known international reinsurance companies of impeccable reputation such as MunichRe, GenRe, SCOR, Lloyd’s, the rating of which is not lower than A- by Standard & Poor’s.

We would like to emphasize that the reorganization is accomplished without causing inconvenience to customers or imposing additional duties on them. From a customer’s point of view, nothing is going to change but the company’s legal name, while the range of insurance products in the Baltic States is not going to shrink, also the risks covered, safety, accessibility and high service standards will remain the same, maintaining the achieved quality and never ceasing to improve it. We expect to become yet more flexible and competitive in both large market segments – in the Baltic States and Western Europe.

BTA continues from offering a wide range of insurance products to both private and legal persons:

• home insurance
• car insurance
• travel insurance
• personal accident insurance
• commercial property and engineering insurance
• general liability insurance
• railway, aviation, marine insurance
• cargo insurance
• guarantee insurance

Sincerely, your insurance company BTA