On November 7, 2016 reorganization of apdrošināšanas akciju sabiedrība “Gjensidige Baltic” was finalized as a result of which apdrošināšanas akciju sabiedrība “Gjensidige Baltic” was acquired by Akcine draudimo bendrove “Gjensidige”. Insurance portfolio of apdrošināšanas akciju sabiedrība “Gjensidige Baltic” was transferred to Akcine draudimo bendrove “Gjensidige” and apdrošināšanas akciju sabiedrība “Gjensidige Baltic” finished its activities without liquidation.
In order to become a participant of Latvian financial and capital markets and commence business activities, a credit institution, an insurance company, a reinsurance company, an insurance broker, a credit union, an investment management company, an investment firm, an operator of regulated market, a pension fund, a payment institution, an electronic money institution, as well as an alternative investment fund manager shall obtain operating authorisation (licence).