Sorainen Lithuania has advised AIG on opening a shared services center in Vilnius to engage in insurance support activities and other shared services functions. The center will service insurance policies, manage claims, and oversee benefit payouts.
According to Ross McConnell, the Vice President for AIG Global Shared Services, the deciding factors in choosing Vilnius were the high level of education, broad language skills, and demonstrated professionalism within the local employment market, along with the large numbers of foreign nationals studying in Lithuanian universities. He noted that the very positive cooperation with the Ministry of Economics and its agency “Invest Lithuania” played a very important role in AIG’s final decision.
According to McConnell: “We decided in 2014 that Vilnius City was the most attractive location for our business service center covering Northern and Eastern Europe. We see AIG’s entry into Lithuania of mutual benefit. By joining the service center sector in Lithuania, we will strengthen it even further, while for our business, this center becomes a convenient focal point for customer service to many of our markets. We have solid plans to develop and expand this center, offering job opportunities to hundreds of talented people in the country.”
The Sorainen team advised AIG — the international insurance organization serving customers in more than 130 countries — on corporate, regulatory, employment, tax, real estate, commercial, and other matters related to the launch of shared services functions in Lithuania. In addition, the firm represented AIG in negotiations with the Lithuanian Ministry of Economy over an investment agreement. Following the launch of the center, the firm continues to assist AIG on local law matters.
The firm's team was led by Partners Algirdas Peksys and Tomas Kontautas.
- Cobalt and Sorainen Advise on Nordea-DNB Combination in the Baltics
- The Buzz in Belarus: Interview with Kiryl Apanasevich of Sorainen
- Sorainen Advises DT Group Finland on Divestment of Puukeskus Shares
- Sorainen, Allen & Overy, and Fenwick & West Advise on Acquisition of Playtika by Chinese Consortium
- Sorainen Provides Pro Bono Advice to Bauskas Dzive