Regarding the intention of INVL life to transfer rights and obligations under insurance contracts

“INVL Life”, uždaroji akcinė draudimo bendrovė (a private limited-liability company, the data about which is compiled and stored at the Register of Legal Entities, registration number: 305859887, address: Gynėjų St. 14, Vilnius, Lithuania; hereinafter – INVL Life) intends to transfer all of its rights and obligations under all life insurance contracts concluded in Lithuania (hereinafter – the Insurance Contracts) to Gyvybės draudimo UAB “SB Draudimas” (a private limited-liability company, the data about which is compiled and stored at the Register of Legal Entities, registration number: 110081788, address: Laisvės Ave. 3, Vilnius, Lithuania; hereinafter – SB Draudimas).

It is planned that the rights and obligations under the Insurance Contracts will be transferred to SB Draudimas no later than 31 December 2023. The transfer will only take place after the Bank of Lithuania’s permission has been obtained for INVL Life to transfer the rights and obligations under the Insurance Contracts to SB Draudimas and after all other conditions of the transaction have been satisfied. The specific date of the transfer will depend on the timing of the fulfilment of all conditions of the transaction. INVL Life will announce the fulfilment of all conditions after which the rights and obligations under the Insurance Contracts will be deemed to have been transferred, and the exact date of transfer, on the website: www.invl.com.

Pursuant to article 50 of the Law on Insurance of the Republic of Lithuania, policyholders who have entered into contracts with INVL Life have the right to express their objections to the above-mentioned transfer of rights and obligations in writing until 25 April 2023, by letter sent to INVL Life, a private-limited liability insurance company, Gynėjų St. 14, Vilnius, Lithuania or by e-mail to draudimas@invl.com.

Policyholders who oppose the transfer of the rights and obligations under the Insurance Contracts shall have the right to terminate their Insurance Contracts in the manner set out therein within one month of the date of the transfer of the rights and obligations under the Insurance Contracts.