What happened to my LKB Life "Life insurance with accumulation 1000+" contract?

Life insurance company CBL Life and bank Citadele have concluded an agreement with the subsidiary company of Latvijas Krājbanka - the liquidated JSC "LKB Life" for the provision of services to existing LKB Life clients.

Part of the life insurance contracts concluded by LKB Life with clients has been taken over by CBL Life; while for those clients with whom LKB Life ended life insurance contracts, according to the instructions provided by LKB Life, Citadele bank paid out the savings amount.

CBL Life has taken over all client contracts "Life insurance with saving 1000+" issued by LKB Life, and those clients with whom such contracts were signed have become CBL Life clients.

CBL Life continued to fulfill the contracts taken over under the same conditions as those provided by LKB Life, including maintaining the guaranteed interest rate.

Savings amounts calculated by LKB Life for these clients have been transferred to CBL Life.

After the contract expiration date clients need to submit an application to CBL Life for the payment of the savings amount.

In case of questions, please write to life@citadele.lv.