Compensa Vienna Insurance Group akcinė draudimo bendrovė (ADB)

Profile of the Lithuanian non-life insurance company “Compensa Vienna Insurance Group” akcinė draudimo bendrovė (ADB).

Company Overview

Legal name: “Compensa Vienna Insurance Group” akcinė draudimo bendrovė (ADB)
Brand: Compensa
Industry sector: Insurance (Non-life / Property & Casualty)
Headquarters: Vilnius, Lithuania (exact registered office address is listed below if available)
Founding in Lithuania: The Compensa brand in Lithuanian non-life insurance has operated since the late 2010s, following Vienna Insurance Group’s Baltic expansion and integration of Seesam Insurance AS operations. The current Lithuanian non-life entity “Compensa Vienna Insurance Group, ADB” was established earlier and its portfolio expanded/rebranded around 2019–2020. Specific initial registration date of the ADB is not publicly verified in this profile.

Legal Information

Įmonės kodas (Company code): Not publicly verified in this profile. Please consult the Lithuanian Centre of Registers (Registrų centras) or Rekvizitai.lt for the authoritative code.
PVM kodas (VAT code): Not publicly verified in this profile.
Official website: https://www.compensa.lt/
General email address: Not centrally published in this profile; Compensa typically provides contact forms and department-specific emails on its official website’s contacts page.
Registered office address (buveinė): Vilnius, Lithuania. The precise street address and postal code are not publicly verified in this profile.
Main phone number: Not publicly verified in this profile; customer service and claims phone numbers are provided on the official website.

Business Operations

Main products/services:
- Motor insurance (MTPL/Third-party liability, CASCO/comprehensive)
- Property insurance (homeowners, apartment, contents)
- Corporate/SME property and liability insurance
- Travel, accident, and health-related non-life products
- Specialized lines for businesses (cargo, engineering risks, professional liability) depending on market offering
Business model: Compensa operates as a non-life insurer under Vienna Insurance Group (VIG), underwriting risks across retail and corporate segments. Distribution typically includes tied agents, brokers, partner/affinity channels, and digital direct sales. Claims handling is managed in-house with partner repair networks and service providers.
Market position: Compensa is among the notable non-life players in Lithuania’s competitive market, benefitting from VIG’s regional scale and technical expertise. The Lithuanian non-life market is concentrated, with leading insurers such as Lietuvos draudimas, Gjensidige, ERGO, IF, and BTA; Compensa competes across major product lines with a growing footprint.

History

Origins of the brand: Vienna Insurance Group (VIG), headquartered in Vienna, expanded in Central and Eastern Europe throughout the 2000s–2010s. The “Compensa” brand is used by VIG in several markets.
Baltic expansion and acquisition: In 2017–2018, VIG agreed to acquire Seesam Insurance AS (operating in the Baltics under OP Financial Group). Post-acquisition, VIG integrated non-life operations and moved to rebrand and consolidate under the Compensa name in the Baltics.
Rebranding in Lithuania: Around 2019–2020, the Lithuanian non-life operations transitioned to “Compensa Vienna Insurance Group, ADB,” with product portfolios, distribution, and customer service rebranded to Compensa.
Development milestones: Since rebranding, Compensa has focused on digital claims workflows, telematics and risk-based pricing in motor lines, and strengthening broker/partner channels for SME and corporate insurance.

Financial Information

Revenue (Lithuania): Detailed, entity-specific revenue data is not publicly verified in this profile. The Lithuanian non-life market data is regularly published by the Bank of Lithuania; market share rankings show Compensa as a mid-sized competitor among established incumbents.
Funding rounds: Not applicable; as an insurance operating company within Vienna Insurance Group, financing is managed through retained earnings and group capital structure rather than venture-style rounds.
Ownership structure: “Compensa Vienna Insurance Group, ADB” is part of Vienna Insurance Group AG Wiener Versicherung Gruppe (VIG), one of the leading insurers in Central and Eastern Europe. VIG is a publicly listed company in Vienna.

Leadership and Management

Key executives (vadovai): Full, up-to-date list of executives and their positions is not publicly verified in this profile. Typically, the Lithuanian non-life insurer is led by a Chief Executive Officer (General Manager) and management team overseeing underwriting, sales, claims, finance, compliance, and IT.
Board members: Board composition details change periodically and are disclosed in official filings and on the company website. The current Board (Stebėtojų taryba / Valdyba, depending on governance) is not publicly verified in this profile.

Office Locations

Head office: Vilnius (exact street address not publicly verified in this profile).
Regional branches/offices: Compensa typically maintains offices or representative points in major Lithuanian cities, including (indicatively) Kaunas, Klaipėda, Šiauliai, Panevėžys, Alytus, Marijampolė, Utena, Telšiai, and Tauragė. Exact addresses and phone numbers for each office are listed on the official website’s contacts page and may change over time.
Phone numbers: Office-specific phone numbers are published per location on the official website; not centrally verified in this profile.

Market Position

Competitors in Lithuania (non-life): Lietuvos draudimas (PZU Group), Gjensidige (Norway), ERGO (Munich Re Group), IF P&C (Sampo Group), BTA Baltic Insurance Company (VIENNA Insurance Group competitor in some markets; in Lithuania BTA is a strong Baltic player under Vienna Insurance Group ownership in other Baltic states), and other niche/specialty insurers and MGAs.
Market share: The Lithuanian non-life market is led by Lietuvos draudimas and Gjensidige; ERGO, IF, BTA, and Compensa form a strong second tier. Precise market share of Compensa in Lithuania varies year to year; consult Bank of Lithuania reports for current percentages.
Competitive advantages: Backing of Vienna Insurance Group (capital strength, reinsurance programs, risk management), broad product portfolio, multi-channel distribution, focus on service quality and digital processes, and leveraging regional expertise across the Baltics.

Recent Developments

- Continued post-acquisition integration and process harmonization following the Seesam Insurance AS transfer and rebranding to Compensa in the Baltics (2019–2020).
- Ongoing digitalization of sales and claims processes, including online policy issuance and remote claims activation.
- Product enhancements in motor and property lines, and partnerships with brokers and service providers to improve customer experience.
- Periodic updates to terms and pricing in response to inflation, supply chain constraints in auto repair markets, and evolving risk landscapes (e.g., severe weather events).

Contact Information

Official website: https://www.compensa.lt/
Customer service: Phone numbers and department emails are provided on the website’s contacts page.
Claims: Claims reporting and assistance are available online via the website; phone lines and email addresses for claims are specified per product line on the site.
Registered office: Vilnius, Lithuania (exact address not publicly verified here).
Email: A general inbox may be provided on the official site; if not, use the contact forms or department-specific emails listed there.

Notes on Data Availability

Some highly specific legal and contact details (company code, VAT code, exact registered office address and phone, office-by-office phone numbers, and named executives/board members) are not publicly verified within this profile. These items are typically available via official Lithuanian registries (Registrų centras), the Bank of Lithuania insurer listings, and the company’s own disclosures on its website. Users should consult those primary sources for the most current and authoritative information.

Sources and References

Primary and regulatory sources:
- Compensa Lithuania official website (company information, products, contacts): https://www.compensa.lt/
- Vienna Insurance Group AG Wiener Versicherung Gruppe (group ownership, strategy): https://www.vig.com/
- Bank of Lithuania (market statistics, insurer registers and reports): https://www.lb.lt/
- Registrų centras (Lithuanian Centre of Registers – legal entities register): https://www.registrucentras.lt/
- Rekvizitai.lt (business directory for Lithuanian companies): https://www.rekvizitai.vz.lt/

Press and industry context:
- Public announcements on VIG’s acquisition of Seesam Insurance AS (2017–2018) and subsequent Baltic rebranding to Compensa (2019–2020) reported by VIG and Baltic business media.
- Annual market summaries and insurer rankings published by the Bank of Lithuania and national business outlets.