AS HANSAPANK

ANNOUNCEMENT

04.03.99

 

 

CHANGE IN THE MANAGEMENT OF EESTI KINDLUSTUS

 

 

Chairman of the Management Board of Eesti Kindlustus Mart 

Einpalu has announced his intention to give up his work in 

Eesti Kindlustus and Hansabank Group in the end of March. As a 

reason for that, he has mentioned the need to take time-out and 

restore energy after the extensive pressure of the last half-

year. 

 

According to Mart Einpalu, split-up of companies offering 

property insurance and life insurance services shall continue 

according to the initial plans of Hansabank. Eesti 

Elukindlustus and Hansapanga Kindlustus shall be merged into 

one commercial undertaking offering life insurance services via 

the branch network of Hansabank. In the future, it is intended 

to merge the former group part of Eesti Kindlustus and Eesti 

Varakindlustus, one of the subsidiaries of the group.

 

Due to withdrawal of Mart Einpalu, the Management Board of 

Hansabank has proposed Mart Tooming, recent member of the 

Management Board of Hansabank and chairman of the Management 

Board of Hansa Capital, to start co-ordinating the field of 

insuring against losses and to merge Eesti Varakindlustus and 

the group part of Eesti Kindlustus. Within two weeks, it is 

intended to appoint the new Supervisory Board of Eesti 

Varakindlustus, likewise to form the Management Board. In the 

future, one legal person - Eesti Kindlustus - will be the one 

to offer property insurance services under the trademark of 

Eesti Varakindlustus.

 

According to Mart Tooming, chairman of the Management Board of 

Hansa Capital, Eesti Varakindlustus is a company of major 

potential and its principal value lays in its strong team and 

trademark. The objective of Hansabank as the owner and the 

insurance team is to ensure good customer service during the 

transformation period, improve the reliability of the trademark 

of Eesti Kindlustus, and together with the team of the company, 

make insurance earn profit. 

 

 

Additional information:

Mart Einpalu

Chairman of the Board

Eesti Kindlustus

Phone: +372 6207 800

 

AS HANSAPANK

 

Margus Kisel

Analyst

Tel. +372 6131 569