Sweden's Skandia to open Thule operations centre in Lithuania

14
09 / 15

TGS Baltic has advised Skandia, one of the largest Sweden's banking and insurance groups, on the establishing a new operations centre in Vilnius.

Thule, a division of the Swedish life insurance company Skandia, will start operations in Vilnius in early 2016. Starting with 70 employees in Lithuania, the company plans to raise this number to 250 in three years.

TGS Baltic provided all legal services throughout the process and advised client on general corporate law, real estate law, employment law, employees' training and data protection matters related to hiring new employees.

Skandia is a life insurance company, which was founded in 1855 in Sweden. At present, the company has 2.5 million clients in Sweden, Norway, and Denmark. Skandia has 2,500 employees, and the group's assets are worth 60 billion EUR. The company also owns Skandiabanken bank. In Sweden, Skandia has 16% of the life insurance market.

TGS Baltic’s team was led by Partner Marius Matonis and Senior Associate dr. Ieva Povilaitienė.