Latvia

Location:
in eastern Europe, bordering the Baltic Sea, between Estonia and Lithuania

Climate:
maritime climate with wet, moderate winters

Natural hazards:
-





Currency: Lats (LVL)

1 EUR = 0.702804 Lats - LVL (fixed)

Sources:
The Financial and Capital Market Commission of Latvia (FKTK)
Latvian Insurers Association (LAA)
National Bank of Latvia

Insurance statistics

1H2017Market Portfolioxlsx
1H2017Insurance companies rankings xlsx
1Q2017Market Portfolioxlsx
1Q2017Insurance companies rankings xlsx
FY2016Market Portfolio FKTKxlsx
FY2016Insurance companies rankings LAAxlsx
3Q2016Market Portfolioxlsx
1H2016Market Portfolioxlsx
1H2016Market Rankings (Latvia Insurance Association)xlsx
1Q2016Market Portfolioxlsx
FY2015Market Portfolioxlsx
1Q2015Market Portfolioxlsx
1H2015Market Portfolioxlsx
1Q2015Market Portfolioxlsx
FY2014Market Portfolioxlsx
3Q2014Market Portfolioxlsx
1H2014Insurance market overview pdf
1H2014Market portfolioxlsx
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FY2013Insurance market overview pdf
FY2013Market Portfolioxlsx
3Q2013Market Portfolioxlsx
1H2013Insurance market overview pdf
1H2013Market Portfolioxlsx
1Q2013Market Portfolioxlsx
FY2012Insurance market overview pdf
FY2012Market portfolioxlsx
3Q2012Market Portfolioxlsx
1H2012Insurance market overview pdf
1H2012Market Portfolioxlsx
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FY2011Insurance market overview pdf
FY2011Market Portfolioxlsx
3Q2011Market Portfolioxlsx
1H2011Insurance market overviewpdf
1H2011Market portfolioxlsx
2010
Insurance market overviewpdf
2010Market portfolio and rankingsxlsx
1H2009
Latvian insurance market overviewpdf
1H2009 Market portfolio xls
1H2009 Life insurance rankingsxls
1H2009
Non-Life insurance rankings xls
2009Latvian insurance market overview pdf
2009Market portfolioxls
2009Life insurance rankingsxls
2009Non-Life insurance rankingsxls
1H2010Latvian insurance market overviewpdf
1H2010Market portfolioxls
1H2010Life insurance rankingsxls
1H2010Non-Life insurance rankingsxls


Latvia 1Q2018 Market Portfolio

Latvia FY2017 Insurance Companies Ranking

See all statistics

STATISTICS: LATVIA: Insurers profit down by almost 50% in 1H2015

According to the figures published by the Financial and Capital Market Commission - FKTK, Latvian insurers (local and EU branches in Latvia) posted aggregated gross written premiums of EUR 273.6 million in the first half of the year, which is 6.3% more compared with the same period last year. At the same time, the value of paid claims and indemnities increased by 9.7% y-o-y to EUR 148.4 million.

Samsung offers free smartphone insurance in LATVIA

Samsung Baltics, in cooperation with insurance company Balta, has introduced free insurance services for smartphones affected by water, reportd Db.lv. Samsung Galaxy S6 and Galaxy S6 edge smartphones can be covered with the service, which is activated using the Screen Care+ application. The insurance will be valid for one year.

STATISTICS: LATVIA, 1Q2015: Local insurers maintained the market in "black" due to the 2% decrease in GWP reported by the EU-branches

According to FKTK - The Financial and Capital Market Commission, the Latvian insurance market totaled EUR 151.21 million at the end of March 2015, or 5.98% more y-o-y. At the same time, the value of paid claims and indemnities was up by 11.69%, reaching EUR 75.64 million. The GWP of branches of EU insurers decreased by 2.05% to EUR 38.84 million (or 25.68% from the total amount of premiums), while the Latvian-based local insurers accounted for the rest of 74.32% or EUR 112.38 million (up by 9.06% y-o-y).

LATVIAN watchdog issues license to BTA Baltic Insurance Company

The Latvian financial watchdog, the Financial and Capital Market Commission (FKTK), has granted the license for insurance operations to BTA Baltic Insurance Company, a subsidiary of the non-life insurer BTA Insurance Company, the FKTK announced.

BALTA earns EUR 96,000 in Q1 in LATVIA

The insurance company Balta earned EUR 96,000 in the first quarter this year, reports LETA, according to the company's announcement. For comparison - in the first quarter last year, Balta earned EUR 6,000.

Swedbank in Baltics operated with profits in Q1

In the first quarter of the year 2015, Swedbank in Latvia earned a net profit of EUR 23 million, compared to EUR 32 million for Q1 2014. Swedbank Lithuania earned a net profit of EUR 21 million in Q1 2015 and Swedbank Estonia earned a net profit of EUR 37.1 million, informs LETA.

STATISTICS: LATVIAN market up 10% in 2014 due the double-digit growth-rate reported by the EU branches

According to the figures published by the Financial and Capital Market Commission - FKTK, in 2014 the Latvian insurance sector totaled EUR 517.4 million, or 9.9% more y-o-y. During the reporting period, gross premiums written by local insurers went up by 6% to EUR 371 million (71.7% of total market), while the EU branches' business saw a double-digit growth rate (+21%) to EUR 146.3 million (28.3% of total GWP).