Sorainen has advised Gjensidige Forsikring on the sale of its Baltic insurance business to Ergo International, which manages Ergo’s international business portfolio.
According to Sorainen, as part of the transaction’s post-closing phase, ADB Gjensidige will be integrated into Ergo through a merger of the two companies. Under the sale agreement, the Gjensidige brand will remain present in the Baltic insurance market until the end of the year and completion of the merger process. Gjensidige received proceeds of approximately EUR 99 million from the transaction, based on the estimated equity value of ADB Gjensidige as of December 31, 2025. With this acquisition, ErgoRGO strengthens its market position as the third-largest insurance company in the Baltics by premium volume, building on ADB Gjensidige’s position as the sixth-largest non-life insurer in the region.
The Sorainen team included Partners Jonas Kiauleikis, Daivis Svirinas, Sergej Butov, Tomas Kontautas, and Indre Peledaite, Counsels Vitalija Impoleviciene, Stasys Drazdauskas, Irma Kunicke, and Piibe Lehtsaar, Senior Associates Aliaksei Vashkevich, Linas Petronaitis, and Marika Grunte, and Associates Raminta Matulyte, Danas Sniute, and Povilas Uzkuraitis.
Sorainen did not respond to our inquiry on the matter.
Editor's Note: After this article was published, Ellex announced it advised Ergo. The firm's team included Managing Partners Liga Merwin and Martin Maesalu, Senior Partner Filips Klavins, Partners Sarunas Keserauskas, Marius Juonys, Sven Papp, and Ramunas Petravicius, Associate Partner Augustinas Macionis, Experts Lina Radaviciene and Arvydas Gruseckas, Senior Associate Lorena Nomeikaite, and Associate Egle Petrosiute-Maroze.
