Market announcement
AS LHV Group
LEI code
529900JG015JC10LED24
Size of the entity
Large group
Economic activities
Financial and Insurance Activities
Industry sector(s)
Credit institution
Country of registered office
Estonia
General information
Categories
Other corporate action
Unique data record identifier
7787
Submission date and time
18.02.2020 08:00:00
Content of announcement in Estonian
Title
LHV Group kavatseb luua kahjukindlustusseltsi
Message
AS LHV Group kavatseb luua kahjukindlustusseltsi AS LHV Kindlustus, millest 65% kuuluks AS-ile LHV Group ja 35% sarnaselt AS-i LHV Finance omanikestruktuurile Euronicsi kaubamärgi all tegutsevate kauplustega seotud isikutele. Kindlustusseltsi tegevusega alustamise eelduseks on koondumist lubava otsuse saamine Konkurentsiametilt, aktsionäridevahelise lepingu sõlmimine, ettevõtte asutamine ja tegevusloa saamine Finantsinspektsioonilt. Kogu protsessi pikkuseks on planeeritud ligikaudu üks aasta. LHV Kindlustus planeerib keskenduda Eesti turule. Kindlustusseltsi klientideks on eelkõige LHV Panga ja Euronicsi kliendid, vähemal määral ka teised kliendid. Kindlustustoodetest keskendutakse jaeklientide toodetele, mis moodustavad enamuse Eesti kindlustusturust. Peamisteks kindlustustoodeteks LHV Panga klientidele on kasko-, liiklus- ja kodukindlustus, vähemalt määral väikese ja keskmise suurusega ettevõtete varakindlustus ning muud kindlustusliigid. Peamisteks kindlustustoodeteks Euronicsi klientidele on lisagarantii- ja ostukindlustus. Kindlustusseltsi müügikanalitena planeeritakse kasutada nii LHV Panga krediiditoodete kliendihaldureid ja e-kanaleid, Euronicsi kaupluste kliendikonsultante, kindlustusseltsi kliendihaldureid kui ka teisi kindlustusmaaklereid ja -vahendajad. Kui panganduses on viimastel aastatel hakanud välispankade asemel aktiivsemalt tegutsema kohalikud pangad, siis kindlustusturul ei ole sellist muutust veel toimunud. Enamus kindlustusturust kuulub välisseltsidele. Kohaliku kindlustusseltsina planeerib LHV Kindlustus eristuda klientide jaoks lihtsuse ja kiirusega nii kindlustuslepingute sõlmimisel kui ka kahjude käsitlemisel, eelkõige e-kanalite kaudu. Kindlustusseltsi eesmärgiks on saavutada innovatsiooni- ja kvaliteediliidri roll turul sarnaselt LHV teistele ärivaldkondadele. Kindlustustegevuse käivitamisel planeerib LHV Kindlustus hakata pakkuma mitmesuguseid kindlustuskaitseid LHV Pangale ja Euronicsile. Selline sünergia tagaks kindlustusseltsile piisavas mahus kindlustuspreemiad, et katta ära kahjud ja kulud ning saavutada kasumlik tegutsemine koheselt kindlustustegevuse käivitumisel peale vastava tegevusloa saamist. Ettevõtte asutamisest kuni tegevusloa saamiseni kannab LHV Kindlustus kulusid ja teenib kahjumit. LHV Group on suurim kodumaine finantskontsern ja kapitali pakkuja Eestis. LHV Groupi peamised tütarettevõtted on LHV Pank ja LHV Varahaldus. LHV-s töötab üle 440 inimese. LHV pangateenuseid kasutab üle 207 000 kliendi ja LHV hallatavatel pensionifondidel on üle 176 000 aktiivse kliendi. Priit Rum LHV kommunikatsioonijuht Telefon: 502 0786 E-post: [email protected] (mailto:[email protected])
Content of announcement in English
Title
LHV Group plans to establish a non-life insurance undertaking
Message
LHV Group plans to establish a non-life insurance undertaking called AS LHV Kindlustus, 65% of which would belong to AS LHV Group, and 35%, similarly to the ownership structure of AS LHV Finance, to persons related to stores operating under the Euronics brand. Prerequisites for commencing the operations of the insurance undertaking include receiving a decision to permit concentration from the Competition Authority, concluding an agreement between shareholders, establishing the company, and receiving an activity licence from the Financial Supervision Authority. The process is estimated to take about one year. LHV Kindlustus plans to focus on the Estonian market. Clients of the insurance undertaking will consist primarily of the clients of LHV Pank and Euronics and, to a lesser extent, other clients as well. Insurance products will mainly focus on products aimed at retail customers, which make up the majority of the Estonian insurance market. The main insurance products for clients of LHV Pank will include motor own damage insurance, motor third party liability insurance, home insurance, and property insurance for small and medium-sized enterprises, and other types of insurance to a lesser extent. The main insurance products for the clients of Euronics will be additional warranty and purchase protection insurance. The following are planned to be used as sales channels by the insurance undertaking: client executives and e-channels for the credit products of LHV Pank, client consultants of Euronics stores, client executives of the insurance undertaking, and other insurance brokers and insurance intermediaries. While in the case of banking, local banks in Estonia have started to become more active instead of foreign banks in recent years, then this type of change has not yet occurred on the insurance market. The majority of the Estonian insurance market belongs to foreign insurance undertakings. As a local insurance undertaking, LHV Kindlustus plans to stand out for clients with its simplicity and speed, both in concluding insurance contracts and in processing claims, primarily through e-channels. The aim of the insurance undertaking is to achieve the role of innovation and quality leader on the market, similarly to LHV's other business fields. Upon commencing insurance activities, LHV Kindlustus plans to begin offering several types of insurance coverage to LHV Pank and Euronics. This synergy would guarantee the insurance undertaking with enough insurance premiums to cover damages and costs, and achieve profitable operation immediately upon the commencement of insurance operations after receiving the respective activity licence. From establishing the company until receiving the activity licence, LHV Kindlustus will bear costs and generate loss. LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group's key subsidiaries are LHV Pank and LHV Varahaldus. LHV employs over 440 people. LHV's banking services are used by more than 207,000 clients, and pension funds managed by LHV have more than 176,000 active clients. Priit Rum Communication Manager Phone: +372 502 0786 Email: [email protected] (mailto:[email protected])