Self service
About us
Compensa – Protecting What Matters
The brand promise of Compensa to protect what matters is reflected in the work and actions of both the life insurance teams at Compensa Life Vienna Insurance Group SE and the non-life insurance teams at ADB Compensa Vienna Insurance Group. We are here to meet the needs of our clients, listen to their desires and concerns, and offer the most favorable solutions.
Compensa Life Vienna Insurance Group SE
- Compensa Life Vienna Insurance Group SE has been operating in the Baltic States since 1993, when the life insurance company Seesam Life was established in Estonia.
- In 1999, the company Seesam Life Latvia expanded its operations to Latvia, and in 2001, the company's branch Seesam Lietuva Gyvybės Draudimas began operations in Lithuania as well.
- In 2007, all three life insurance companies in the Baltic States merged into a single company called Seesam Life Insurance SE, which was acquired by the Austrian insurance group Vienna Insurance Group in 2008. Following this event, Seesam Life Insurance SE became Compensa Life Vienna Insurance Group SE. Vienna Insurance Group is the sole shareholder of the company Compensa Life.
- On October 27, 2007, the life insurance companies operating in the Baltic States under the umbrella of Seesam Life Insurance merged into the single company Seesam Life Insurance SE.
- In 2008, the largest Austrian insurance group in Central and Eastern Europe, Vienna Insurance Group, acquired Seesam Life Insurance SE and became Compensa Life Vienna Insurance Group SE.
“We place even more emphasis on improving customer experience and service, developing and creating new digital tools for life and health insurance. We aim to make it as convenient as possible for our clients to use our services. I believe this is the key to success in the competitive and rapidly modernizing life and health insurance market in the Baltic States,” says Tomas Milašius, Chairman of the Board and Head of the Lithuanian branch of Compensa Life Vienna Insurance Group SE.
We are the first life insurance company in Lithuania to join the Diversity Charter in 2022, which aims to ensure equal opportunities in the workplace, create standards for diversity management and openness, and promote practical implementation, organizational transparency, and social responsibility.
Employee well-being is an integral part of sustainable growth. Inclusion and diversity have become one of the company's strategic goals in creating a corporate culture that listens to every employee's opinion, respects different beliefs, and values experiences and ideas.
The company's consistent commitment to sustainability has been solidified by receiving the ISO 14001 certification, allowing us to monitor Compensa Life's environmental impact and assess the effectiveness of the Environmental Management System in use. A Sustainability Policy has been approved within the company. The Board ensures that the Policy is continuously updated and aligns with applicable legal standards and the objectives of the VIG group. In our workplace, we sort waste together, conserve energy resources, and regularly organize training on sustainability topics. We also care for the environment, planting trees to offset the paper we use and cleaning up the seaside. We continually work on digitizing processes and aim to reduce paper usage in our operations. All documents are signed electronically, and this way, each of us contributes to reducing unnecessary consumption.
The company has divisions in Lithuania, Latvia, and Estonia:
- In Lithuania, customer needs are managed by 122 administrative staff members. The company has divisions in 11 sales locations across 7 cities. It collaborates with over 870 dependent intermediaries.
- In Latvia, customer needs are handled by 59 administrative staff members. The company has divisions in 5 cities, with 98 dependent intermediaries.
- In Estonia, customer needs are managed by 70 administrative staff members. The company has divisions in 4 cities, and 25 people work in sales.
We are pleased that participation in social activities is part of our corporate culture, and we have many initiatives, from blood donation and cake days to various environmental cleanup campaigns. We also join digital initiatives, such as "Digital Cleanup Day," during which we aim to reduce the volume of digital data and the storage of unnecessary files. We participate in social activities with our colleagues, and we have a "Social Active Day," where we dedicate one workday each year to a chosen volunteer activity.
ADB Compensa Vienna Insurance Group
- ADB Compensa Vienna Insurance Group is a joint-stock insurance company registered in Lithuania, operating in the Baltic States since January 1.
- Prior to 2016, the non-life insurance services in Lithuania were provided by the branch of the Polish insurance company Compensa TU S.A. Vienna Insurance Group, established in 2010. As the company grew and expanded within the Baltic region, structural changes were made, and the Compensa TU S.A. Vienna Insurance Group Lithuanian Branch transferred its entire business, including assets, rights, and obligations, to the newly established joint-stock insurance company ADB Compensa Vienna Insurance Group.
- On July 1, 2020, Seesam Insurance and ADB Compensa Vienna Insurance Group, two non-life insurance companies operating in the Baltic States, completed their merger and became a single entity. Since then, the company operates under the brand ADB Compensa Vienna Insurance Group in Lithuania and Latvia, and under the brand Seesam Insurance in Estonia.
- In 2023, ADB Compensa Vienna Insurance Group was ranked among the top ten leaders in the financial sector by Verslo žinios for the third consecutive year. Additionally, in 2023, the company secured the 33rd position in the Lithuanian Business Leaders 500 list, climbing from 264th place in previous years and achieving the best result among non-life insurance companies.
"Remaining among the strongest companies in the financial sector, even in times of external uncertainty, is not a coincidence but a testament to our consistent growth and competitiveness in the market. Everyone plays an important role here – the team, partners, and shareholders. By working together and focusing our activities entirely on the needs and expectations of our clients, we demonstrate what true leadership is," says Deividas Raipa, Chairman of the Board and CEO of ADB Compensa Vienna Insurance Group.
In compiling the list of financial sector leaders for 2023, Verslo žinios evaluated revenue, pre-tax profit, annual growth of both, profitability, profit per employee, average salary, and the average number of employees in 2022.
The company’s branches operate in Lithuania, Latvia, and Estonia. Today, ADB Compensa Vienna Insurance Group has 50 sales points in 44 cities and towns across Lithuania. The company collaborates with 92 insurance agents, while 18 experts work directly with medium and large enterprises. Nearly 500 specialists in the country provide daily consultations and services to private clients on transport, property, and personal insurance matters. Additionally, they support business clients by protecting their assets, ranging from small and medium-sized enterprises to large corporations, through transport, cargo, general liability, construction, and surety insurance.
In Latvia, the needs of clients are met by 310 ADB Compensa Vienna Insurance Group employees across 40 sales and consultation locations throughout the country. In Estonia, the company operates from a single office, with 180 employees dedicated to client consultations and insurance services.
Every specialist working in the Baltic States benefits from the experience gained across 25 different Central and Eastern European markets. This knowledge and diversity allow the company to stay close to clients and understand their needs. Daily, the group shares experiences, knowledge, and ideas, with diversity being one of the key success factors and a crucial value for the company. This enables employees to fully understand local customer needs and offer the most relevant services. A unified claims settlement system created by the company operates throughout the Baltic States, and clients can seek compensation for claims at any branch in the region.
We Are Part of Vienna Insurance Group
Vienna Insurance Group (VIG) is a leading insurance group in Austria and across the Central and Eastern European region. The group, known for its long-standing traditions, strong brands, and close relationships with clients, consists of approximately 50 insurance companies in 30 countries. Every day, more than 25,000 employees within the group take care of over 22 million clients and their needs.
The responsibility of Vienna Insurance Group is to provide its clients with financial protection against potential risks. The group follows a unified operational strategy, which is adapted to different markets while developing various brands. The group’s success and connection with its clients depend on each brand and the practical knowledge gained in the local market.
VIG places a strong focus not only on the Austrian market but also on the markets of Central and Eastern European countries. More than half of the group’s written premiums are generated in these regions. Vienna Insurance Group’s activities in this area reflect the economic growth forecasts, which predict twice as fast economic growth compared to Western Europe. Moreover, the level of insurance coverage in Central and Eastern European markets remains lower than the EU average.
High Financial and Credit Ratings
VIG shares have been listed on the Vienna Stock Exchange since 1994. The internationally recognized rating agency Standard & Poor's has awarded VIG an A+ rating, positioning Vienna Insurance Group as one of the highest-rated companies in the Vienna Stock Exchange's ATX index. The group's shares are listed on both the Vienna and Prague stock exchanges. The majority of VIG shares—70%—are held by Wiener Städtische Versicherungsverein, with the remaining shares publicly traded.
Insurance contracts are reinsured with some of the world's.
