Aktia Life Insurance’s Acquisition of Alandia’s Life Insurance Portfolio

Castrén & Snellman assisted Försäkringsaktiebolaget Liv-Alandia in the transfer of its portfolio.

Aktia Life Insurance Ltd and Försäkringsaktiebolaget Liv-Alandia have agreed on the transfer of Alandia’s life insurance portfolio to Aktia.

Försäkringsaktiebolaget Liv-Alandia, a subsidiary of Alandia Försäkring, has a portfolio of approximately 11,000 life insurance policies, which for the most part have been handled by Aktia already for 56 years. Since Liv-Alandia placed its life insurance portfolio into run-off in the beginning of 2019, Aktia has also been mainly in charge of the customer service for Liv-Alandia’s customers. The insurance contracts will be transferred with the current terms and conditions and the transfer does not require any measures from Liv-Alandia’s customers.

Alandia is an insurance company with focus on Marine, Cargo and Pleasure Craft insurance. With over 80 years of experience Alandia provides superior marine insurance expertise and claims service to its customers by creating long-term relationships in a committed and accountable way. Headquartered in Aland islands and with offices in Helsinki, Stockholm and Gothenburg Alandia employs approximately 115 professionals.

Aktia is a Finnish asset manager, bank and life insurer that has been creating wealth and wellbeing from one generation to the next for 200 years. We serve our customers in digital channels everywhere and face-to-face in our offices in the Helsinki, Turku, Tampere, Vaasa and Oulu regions. Our award-winning asset management business sells investment funds internationally. We employ approximately 750 people around Finland. Aktia’s assets under management (AuM) on 31 December 2019 amounted to EUR 9.9 billion, and the balance sheet total was EUR 9.7 billion. Aktia’s shares are listed on Nasdaq Helsinki Ltd.

The Castrén & Snellman team included Janne Lauha (Picture), Sari Hiltunen, Sari Laaksonen, Sami Lommi and Minna Korhonen.

Involved fees earner: Sari Hiltunen – Castrén & Snellman; Minna Korhonen – Castrén & Snellman; Sari Laaksonen – Castrén & Snellman; Janne Lauha – Castrén & Snellman; Sami Lommi – Castrén & Snellman;

Law Firms: Castrén & Snellman;

Clients: Liv-Alandia;

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