In 1999, the company started its business as a subsidiary of AB Vilniaus bankas. Former company name VB gyvybės draudimas.

In 2000, VB gyvybės draudimas has acquired Hermis asmens draudimas engaged in insurance services.

In 2005, the company changed its name to SEB VB gyvybės draudimas.

In 2008, the company changed its name to SEB gyvybės draudimas.

In 2010, seeking to optimise the activities of international financial group SEB, the shares of SEB gyvybės draudimas were transferred by AB SEB bankas to SEB Trygg Liv Holding AB, a member of the SEB Group offering the life insurance services, which currently is a holder of 100 per cent of shares of SEB gyvybės draudimas.