Baltic Investment Company (BIC) advised to the largest Polish insurance group on acquisition of two insurance companies in Lithuania.

Poweszechny Zaklad Ubezpieczen (PZU), a Polish leading insurance firm, has acquired NORD/LB Draudimas, a Lithuanian property insurer, and NORD/LB Gvyvybes Draudimas, a Lithuanian life insurance company, from NORD/LB, a German bank, for an undisclosed consideration. The purchase represents a further step for PZU in the Lithuanian market.

BIC provided buy side financial advisory services to PZU jointly with international investment bank.

BIC envisages further consolidation of the insurance sector in the Baltics and look forward to new assignments.