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
7933
Submission date and time
15.04.2020 16:30:00
Content of announcement in Estonian
Title
Konkurentsiamet andis loa LHV Groupi ja Toveko Investi koondumisele
Message
Konkurentsiamet andis loa AS-i LHV Group ja Toveko Invest OÜ koondumisele, et ettevõtted saaksid ühiselt sisenda kahjukindlustuse turule. AS LHV Group ja Toveko Invest OÜ plaanivad asutada kahjukindlustusseltsi ärinimega AS LHV Kindlustus, millest 65% kuuluks AS-ile LHV Group ja 35% sarnaselt AS-i LHV Finance omanikestruktuurile Toveko Invest OÜ-le. Seltsi põhitegevuseks saab kahjukindlustustoodete pakkumine. Kindlustusseltsi tegevusega alustamise järgnevateks eeldusteks on aktsionäridevahelise lepingu sõlmimine, ettevõtte asutamine ja tegevusloa saamine Finantsinspektsioonilt. LHV on teavitanud kavatsusest luua kindlustusselts 18. veebruari börsiteatega: https://cns.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=922262&mes sageId=1162156 LHV Group on suurim kodumaine finantskontsern ja kapitali pakkuja Eestis. LHV Groupi peamised tütarettevõtted on LHV Pank ja LHV Varahaldus. LHV-s töötab üle 450 inimese. LHV pangateenuseid kasutab 212 000 klienti ja LHV hallatavatel pensionifondidel on 177 000 aktiivset klienti. Priit Rum LHV kommunikatsioonijuht Telefon: 502 0786 E-post: [email protected]
Content of announcement in English
Title
Competition Authority decided to permit concentration of LHV Group and Toveko Invest
Message
The Estonian Competition Authority has granted a permit for concentration of AS LHV Group and Toveko Invest OÜ for the companies to jointly enter the non-life insurance market. AS LHV Group and Toveko Invest OÜ plan 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 Toveko Invest OÜ. The main business line for the undertaking would be offering non-life insurance products. The ensuing prerequisites for commencing the operations of the insurance undertaking include concluding an agreement between shareholders, establishing the company, and receiving an activity licence from the Financial Supervision Authority. LHV has disclosed the intent to establish an insurance undertaking in the 18 February market announcement: https://cns.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=922262&mes sageId=1162155 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 450 people, and 212,000 customers use LHV's banking services. Pension funds managed by LHV have 177,000 active clients. Priit Rum Communication Manager Phone: +372 502 0786 Email: [email protected] (https://www.globenewswire.com/Tracker?data=MDSPW5HTtYvtQ7_2jIeWFd1pkj_- L4BNkP8RApJmYDFc4n7JGF_zS7i9yFNHthSf7rwTuASgbw4kcQ6R5mFBx_gD_38PFhkCP3bvzQDpYXGm Nx9rPJEWJlknFSzsMRFxiMGugI3cDBHZnhmvcUKjWDEgdifgttROXtk9BOaEG-vcxOSSsLGKC_sI- Kdh-XyoEz7HV9FxUVsmnpXBzUrxGjDijx08kXyWqZ4ZhDM-lCM=)