in eastern Europe, bordering the Baltic Sea, between Estonia and LithuaniaClimate:
maritime climate with wet, moderate wintersNatural 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
|1H2017||Insurance companies rankings ||xlsx|
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|FY2016||Market Portfolio FKTK||xlsx|
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|1H2016||Market Rankings (Latvia Insurance Association)||xlsx|
|1H2014||Insurance market overview ||pdf|
|FY2013||Insurance market overview ||pdf|
|1H2013||Insurance market overview ||pdf|
|FY2012||Insurance market overview ||pdf|
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|FY2011||Insurance market overview ||pdf|
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|2010|| Insurance market overview||pdf|
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|1H2009||Latvian insurance market overview||pdf|
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|1H2009 ||Life insurance rankings||xls|
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|2009||Latvian insurance market overview ||pdf|
|2009||Life insurance rankings||xls|
|2009||Non-Life insurance rankings||xls|
|1H2010||Latvian insurance market overview||pdf|
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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 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.
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).
The Latvian financial regulator, the Financial and Capital Market Commission, has allowed Latvian non-life insurer BTA Insurance Company to transfer part of its insurance portfolio to its subsidiary.
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.
The amount of health insurance premiums subscribed in Latvia might grow 5 pct this year, Janis Lucaus, the board chairman of BTA Insurance Company, said in an interview with BNS.
SEB Dzivibas Apdrosinasana, the Latvian life insurance company of SEB Group, has reported a profit of 1.701 million euros for the first three months of this year.
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.
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.
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).
In 2014, BTA Insurance Company (BTA) collected EUR 178.5 million in
gross premiums, which is EUR 18.5 million or 11.6% more than in 2013,
according to BTA's unaudited financial statement, cites LETA.
Latvian insurance companies sustained a 4.5m euros aggregate loss from mandatory motor third party liability (MTPL) insurance in 2014, BNS was told at the Latvian Motor Insurers Bureau (LTAB).
According to the figures published by the Financial and Capital Market Commission - FKTK, the Latvian insurance market totaled at the end of September 2014 about EUR 378 million, or 7.6% more y-o-y. Of the total, gross premiums written by local insurers increased by EUR 10 million as compared to september 2013 (to EUR 271 million), while the gross premiums written by the EU branches reached more than EUR 107 million, or 28.3% of the total GWP.