Latvia

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Location map
author: OCHA/ ReliefWeb


Location:
- in eastern Europe, bordering the Baltic Sea;
- Neighbours: Lithuania, Estonia, Russia, Belarus.

Climate:
- maritime climate with wet, moderate winters.

Macro indicators
* 2018 estimates
Surface:64,589km2
Population*:1.9million
Pop. density*:29.9people/km2
GDP*:29.5EUR billion
GDP/capita*:15,262.6EUR

European Union:
EU member, since 2004

Currency: Euro
Code: EUR
Since: 2014
- replaced Latvian lats (LVL)


Insurance market portfolio
* 2018 estimates
TOTAL LIFE*:19%
TOTAL NON-LIFE*:81%
Overall Property*:12%
Overall Motor*:32%


Sources:

 


Statistics

Latvia 3Q2019 Market Portfolio

Latvia 3Q2019 Insurance Companies Rankings


See all statistics

Latest news

LATVIA: Tax reform slowed down life insurance in 2018

Insurance market premiums in 2018 increased by 11.3% overall compared to 2017. Life insurance as a whole remains the most important insurance group, but its recorded evolution shows near stagnation.









SEB to merge its three Baltic life units

SEB - one of the largest life insurers in Baltic region announced is planning to merge its units in the Baltic States, "into one legal entity to further improve our operational efficiency and deliver improved customer services. The merger will not affect our services to the customers".






LATVIA: Loss from mandatory insurance shrinks to EUR 120,000 in Q1

Latvian insurance companies' aggregate loss from mandatory motor third party liability (MTPL) insurance was EUR 120,000 in the first quarter of 2018, down from EUR 4.054 million in the same period last year, writes LETA, according to information released by the Motor Insurers' Bureau of Latvia (LTAB).






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