BUNDA

Name

BUNDA

Legal name

Baltic Underwriting Agency, AB

Website

https://bunda.eu

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Specialty Commercial Insurance

NAICS

Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Wholesale Insurance Brokerage (Excess & Surplus Lines) (FSAEADAD)

akta.pro secondary industry

Cargo Insurance Placement & Policy Administration (All-Risk, ICC A/B/C) (TLACAHAG)

Keywords

• Liability insurance products
• Cargo insurance coverage
• Directors officers insurance
• Cyber risk insurance
• Lloyd's coverholder services

Headquarters

HQ city

Vilnius

HQ country

Lithuania

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Insurance Premiums: BUNDA as Lloyd's Coverholder collects insurance premiums and provides insurance coverage backed by Lloyd's capacities. Revenue generated through insurance policy premiums underwritten on behalf of Lloyd's syndicates.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

BUNDA operates as a Lloyd's Coverholder in the Baltic Sea region, underwriting and distributing a portfolio of specialized insurance products (liability, logistics, personal lines) on behalf of Lloyd's syndicates. The company holds delegated binding authority to issue policies, collect premiums, and settle claims under the Lloyd's market brand, providing access to broader coverage and higher limits than typically available in Baltic insurance markets. It distributes through 120+ insurance brokers and direct enterprise channels across 22 EU countries.

Product overview

BUNDA (Baltic Underwriting Agency, AB) is a Coverholder at Lloyd's offering a comprehensive portfolio of insurance products and solutions. The company provides liability insurance products (General Liability, Directors & Officers, Individual D&O, Professional Indemnity, Exhibitors' Liability), logistics insurance (Cargo, Freight Services, Warehouse Keepers), and personal lines insurance (Personal Accidents, Corporate Travel, Term Life, Kidnap & Ransom). As Lloyd's representative in the Baltic Sea region, BUNDA accesses the financial strength and expertise of the Lloyd's market to offer coverage that is typically broader with higher limits than local Baltic insurance markets.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Top 30 Coverholder in Europe (out of 400)
• +2 more outcomes

Named customers3 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core and minor.

• Lloyd's Insurance Company S.A.coreStrategic or Co-development PartnerBUNDA operates as Coverholder at Lloyd's since 2015, authorized to underwrite insurance risks, enter contracts, collect premiums and settle claims on behalf of Lloyd's Insurance Company S.A. headquartered in Brussels, Belgium. Lloyd's provides financial strength ratings of A+ (S&P), AA- (Fitch), A (AM Best).
• 20+ Lloyd's SyndicatescoreStrategic or Co-development PartnerPartnership with over 20 Lloyd's syndicates providing insurance capacities for various risk lines including liability, cargo, personal accident, and specialty covers.
• 120+ Insurance BrokerscoreChannel Partner/ Reseller/ DistributorNetwork of 120+ insurance brokers across 22 EU countries who access Lloyd's market through BUNDA Coverholder for their clients' insurance needs.
• OPS Lietuva AssistanceminorStrategic or Co-development PartnerTravel insurance claims administrator providing 24/7 assistance services for travel insurance claim events. Contact: +370 5 279 0860, [email protected]
• Chamber of Insurance Brokers of LithuaniaminorGTM or Marketing PartnerIndustry association partnership for training sessions and professional development for insurance brokers in Lithuania.
• DUAL Europe GmbHcoreStrategic or Co-development PartnerProfessional liability insurer for BUNDA with policy PC-7625102441 covering EUR 1,850,000 Any One Claim and EUR 2,500,000 Aggregate, period 11 September 2025 to 10 September 2026.

Scale indicators11 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Hiscox: Hiscox is a Lloyd's specialty insurer offering professional indemnity, D&O, cyber, and personal accident products — directly overlapping BUNDA's product mix but at much larger scale and with broader geographic reach.
• Beazley: Beazley is a major Lloyd's specialty insurer with strong positions in Cyber, D&O, and Professional Indemnity — categories BUNDA also serves, but Beazley operates across global markets rather than regional Baltic focus.
• Marsh: Marsh is one of the world's largest insurance brokers with extensive Lloyd's market access and specialty capabilities — a broader incumbent that BUNDA competes with on complex multinational and D&O/Cyber placements.

Direct peers

• Atrium Underwriters: Atrium is a Lloyd's managing agent and Coverholder operator underwriting specialty lines on behalf of Lloyd's syndicates — analogous to BUNDA's Coverholder role but at the Lloyd's market level rather than regional distribution.
• Howden Group: Howden is a large specialty insurance broker with deep Lloyd's market access and binding authority arrangements, comparable to BUNDA's role as a Coverholder distributing specialty capacity through brokers.
• CFC Underwriting: CFC is a Lloyd's-focused specialty insurer underwriting cyber, professional indemnity, and liability lines — the same specialty categories BUNDA covers via its Lloyd's Coverholder authority.
• RKH Specialty: RKH Specialty is a Lloyd's-focused specialty insurance broker placing complex risks into Lloyd's syndicates, comparable in function to BUNDA's role intermediating between regional brokers and Lloyd's capacity.
• Miller Insurance: Miller is a Lloyd's specialist insurance broker focused on complex and specialty risks through Lloyd's market access, structurally similar to BUNDA's Coverholder distribution model.

Regional players

• Seesam Insurance: Seesam is one of the leading Baltic insurance carriers offering motor, property, and liability coverages across Lithuania, Latvia, and Estonia — a regional incumbent BUNDA competes against for local SME and corporate business.
• ERGO Insurance Group (Baltic operations): ERGO operates as a major direct insurer in the Baltic states providing liability, personal accident, and corporate insurance products, competing with BUNDA for local market accounts but without Lloyd's specialty distribution focus.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/baltic-underwriting-agency-ab

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BUNDA