Insurer profile

UAB Artea Life Insurance, Latvian branch (formerly Gyvybės draudimo UAB "SB draudimas" Latvijas filiāle)

UAB Artea Life Insurance, Latvian branch (formerly Gyvybės draudimo UAB "SB draudimas" Latvijas filiāle) · Latvia

Founded 2000Riga, Latvia (branch); parent company headquartered in Vilnius, LithuaniaLast verified Aug 28, 2026

Overview

The insurer operating under the brand name "SB Insurance"/"SB draudimas" in the Baltics is a life insurance company that has provided life insurance services since 2000, and became part of the Šiaulių Bankas (now Artea Bankas) group in 2023 after taking over INVL Life's life insurance business in Lithuania, Latvia and Estonia; in May 2025 the company was renamed UAB Artea Life Insurance and its Latvian branch now operates as UAB Artea Life Insurance Latvijas filiāle.

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Products in this market

Company details

Parent group: AB Artea Bankas (formerly AB Šiaulių bankas)
Regulator: Bank of Lithuania (home-state prudential supervisor of the parent company); Latvijas Banka (Bank of Latvia) supervises the branch's activities in Latvia
Phone: +371 67503333
Email: [email protected]

Official website

Products from UAB Artea Life Insurance, Latvian branch (formerly Gyvybės draudimo UAB "SB draudimas" Latvijas filiāle)

Health1

Critical Illness Insurance

Pays a lump-sum benefit upon diagnosis of a critical illness, giving the insured time and financial support to address their health, including medication, treatment and rehabilitation costs.

Official website

Life4

Life Insurance (without savings)

Protection-only life insurance whose main purpose is to care for the family's financial wellbeing by insuring life and health, providing financial security to loved ones if the family provider dies.

Official website

Savings (Accumulating) Life Insurance

Combines saving money for future needs with life insurance, allowing partial or full withdrawal of accumulated capital in case of unforeseen financial difficulties, with premiums starting from €30 per month.

Official website

Critical Illness Supplementary Insurance

Add-on cover paying a lump-sum benefit upon diagnosis of a critical illness, giving the client time and financial support to focus on treatment and recovery.

Official website

Accident Insurance

Provides financial security in case of disability, injury or death resulting from an accident, offered as part of the life insurance product range.

Official website

Financial1

Investment Solutions (linked to unit-linked life insurance)

A range of investment solutions (index-based, fixed income, equities and other options) designed to help unit-linked life insurance clients accumulate as much capital as possible by leveraging investment market opportunities.

Official website

Regulatory updates

On 15.09.2023 the Latvian branch was registered in the Commercial Register (reg. No. 40203508126) at Citadeles iela 12, Riga, to take over the life insurance business previously carried out by the INVL Life Latvian branch; the Bank of Latvia's 2023 annual report confirms that INVL Life's Latvia-concluded contracts were transferred to Gyvybes draudimo UAB "SB draudimas" on 1 December 2023. On 5 May 2025, following the Šiaulių Bankas group's rebranding to Artea, the company's legal name changed to UAB Artea Life Insurance and the Latvian branch now operates as UAB Artea Life Insurance Latvijas filiāle, with the same licences for life, unit-linked, accident and health insurance dated 15.09.2023.