Built in 1938, a three-story office building with a mansard and a half-basement for the insurance company "Lietuvos Lloyd" gave L. Sapiegos street solidity and an urban scale characteristic of the central part of the capital. The idea to build its own administrative building for the insurance company originated in the early 1930s. In 1934, a competition was announced for the design of the building. It ended in 1935. Although the design proposal of engineers Feliksas Bielinskis and Nikolajus Maciulskis was awarded the first prize, the final design of the building was made by engineer-architect Arnas Funkas in 1937.
Even though it was built at the end of the 1930s, when rapid architectural modernization processes took place in Lithuania, the "Lloyd" office building retains the monumentality and classical tectonics characteristic of Kaunas' representative architecture of that time. The building, built on a corner plot has a rational and solid appearance, with almost no decorative elements. The monumentality of the building is created by a high plinth, laconic looking vertical pilasters on the facade and narrow vertical windows characteristic of classical architecture.
Various rooms were planned in the half-basement: a dining room, apartments for the guard and the courier, an archive, and other smaller rooms. The premises on the first and second floors were intended for administration and employees, while the third floor was intended as a residential apartment.
The building has retained a fairly authentic appearance, which was not damaged by the extensions built during the Soviet era.