BUNDA Blog

For the fifth year in a row, the BUNDA team packed our bags and headed off for a few days away from our usual work environment – and, most importantly, for some quality time together.

We started our journey at Ūlos akis, continued through Zervynos village and Čepkeliai Marsh, and, inspired by the beauty of nature, made our way to Druskininkai, where we spent the rest of our time together.

One of the highlights was discovering the art of stained glass. We had a unique opportunity not only to learn more about this beautiful craft, but also to create something ourselves. For most of us, it was a first experience – and a great reminder of how much creativity can be hidden inside each of us.

Of course, our workation tradition would not be complete without our team dinners. On two evenings, we split into teams and prepared dinner for each other. Somehow, dinner away from home always feels a little more special – becoming an event, a new experience and, most importantly, time spent together.

But the most important part of this tradition is the people. Every BUNDA team member inspires others through their example, knowledge, experience and willingness to help.

That is why workation is more than just a trip for us. It is a chance to step away from our everyday routine, share new experiences, get to know each other better and strengthen what matters most to us – our team.

Thank you to the entire BUNDA team for three meaningful days, great energy and so many shared moments.

In 1688, Edward Lloyd’s coffee house in London became a meeting place for shipowners, merchants and people willing to take on part of their risk.

At the time, a voyage by sea was anything but predictable. A ship could be damaged in a storm, its cargo could be lost, or the ship itself might never return. Shipowners therefore looked for people willing, for an agreed price, to share the financial consequences if something went wrong.

Edward Lloyd’s coffee house brought these two sides together.

From these meetings, Lloyd’s eventually emerged.

But there is one important thing to understand:

Lloyd’s is not a single insurance company – it is an insurance market.

The Lloyd’s market is made up of syndicates – in simple terms, they can be compared to insurance companies. Each syndicate has its own expertise and decides which risks it is prepared to take on.

A syndicate may insure a risk on its own, while particularly large or complex risks can be shared between several syndicates.

🔔 Lloyd’s remarkable history is also represented by the famous Lutine Bell. In the past, it was used to announce news about ships: one ring meant bad news, while two rings meant good news.

More than 330 years later, the risks may look very different.

Today, the Lloyd’s market provides solutions not only for marine risks, but also for aviation, satellites, offshore wind farms, undersea internet cables, global concert tours, fine art and many other complex risks.

Yet the principle at its heart remains remarkably familiar: understand the risk, assess it and find the capacity to take it on.

At Baltic Underwriting Agency, AB (BUNDA), we are proud to be a Lloyd’s Europe Coverholder and part of this extraordinary global insurance market. Through our delegated authority, we can assess risks and make underwriting decisions across our markets, bringing Lloyd’s expertise and capabilities closer to our clients and broker partners.

From a London coffee house in the 17th century to some of today’s most complex risks.

That is Lloyd’s.

Eleven years ago, our first million felt like the highest peak. Today, these numbers tell a much richer story – one of dedication, trust, and the ability to solve even the most complex insurance challenges.

• 1,000,000 coffee beans – the fuel behind a year of early mornings, important decisions, and shared ideas. Each bean represents teamwork.
• 18,000 claims – 18,000 moments when we stood by our clients, acting quickly, precisely, and responsibly.
• 55,000 policies – 55,000 decisions to trust us with what matters most.
• Insurance solutions in 22 EU countries – proof that our expertise goes beyond Lithuania and delivers value across Europe.
• 150+ trainings and webinars – strengthening market knowledge and building a community through shared experience.
• 15M EUR personal accident insurance limit for a single insured – a market record, but more importantly, a reflection of our ability to find unconventional solutions.
• 20+ Lloyd’s syndicates – partnerships that go beyond borders, systems, and expectations.
• Top 30 coverholder in Europe (out of 400) – recognition of our professionalism, reputation, and consistent quality.

These numbers are not just ours – they represent our clients’ stories. Every step, every decision, every cup of coffee serves one purpose: to help our partners feel secure.

Thank you for being part of this journey. What comes next – we will decide together.

We’re excited to introduce our new Individual Directors & Officers (D&O) insurance solution – designed specifically for professionals serving on management and supervisory boards in an individual, independent capacity.

Board-level roles today come with increasing scrutiny and personal exposure. This solution is built to ensure that you are protected – independently of the organisations you serve.

Key features:

• Policy issued directly to the individual, ensuring protection regardless of company decisions or financial position
• A single insurance policy can cover multiple board positions held by the same individual
• Acts as primary coverage when no corporate D&O policy is in place
• Functions as excess or Difference in Conditions (DIC) coverage alongside existing corporate D&O, filling potential gaps

This solution brings clarity, flexibility and confidence to board members navigating today’s complex risk landscape.

To learn more, feel free to reach out at ask@bunda.eu