Regulatory Alerts2025-07-18
Added · Updated
Resolution No 03-104 Amending Resolution No 03-259 on Licensing Rules for Insurance and Reinsurance Activities
Resolution No 03-104 of 18 July 2025 amends and recasts Resolution No 03-259 to approve the Rules for the Licensing of Insurance and Reinsurance Activities and Authorisation of Branch Operation. The Rules establish procedures for Lietuvos bankas to issue, replace, suspend, or withdraw licenses for insurance and reinsurance activities and authorizations for third-country branches. Applicants must submit specific applications and accompanying documents, including proof of minimum capital, business plans, and governance policies, while notifying the regulator of any changes within five or fifteen calendar days.