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.
SIA Aon Consulting has been registered with the Registry of Enterprises
of the Republic of Latvia, the company is the Latvian subsidiary of the
world's leading human resource management consulting, risk management,
and insurance brokerage company, the Aon Corporation. The consulting
company's paid up share capital is EUR 30,000.
Estonia-registered insurance company If P&C Insurance and its
subsidiaries in Latvia and Lithuania, earned EUR 17.4 million in
January-September 2014, informs LETA...In January-September 2013, If
P&C Insurance earned EUR 10.8 million.
Insurance company BTA Insurance Company (BTA) in Latvia racked up EUR 133.1 million in premiums in the first nine months of 2014, which is 8.4% more than in the first none months of 2013, informs LETA.
Latvian Financial and Capital Market Commission approved new persons joining Management Board of Balta, leader of Latvian insurance market: Mr. Bogdan Benczak, who will be the new CEO of Balta, and Mr. Rafa
According to the figures published by the Financial and Capital Market Commission - FKTK, the Latvian insurance market totaled, at the end of June, EUR 257.5 million, 7.7% more y-o-y. At the same time, the value of paid claims and indemnities increased by 1.3% y-o-y to EUR 135.3 million.
Up to 120 BMW cars stolen in a sophisticated cross-border key cloning
racket were to be dismantled and shipped to Latvia, the High Court has
For the fourth consecutive year, Latgale remains the region where car
crashes involving vehicles that do not have OCTA insurance are more
common than in any other region of Latvia. Rezekne, Kraslava and
Jekabpils make up the TOP 3 places where such accidents occur most
According FKTK - The Financial and Capital Market Commission, the Latvian insurance market totaled EUR 142.7 million at the end of March 2014. Compared to the corresponding period of last year, the figure increased 13.5% y-o-y. At the same time, the value of paid claims and indemnities decreased 8.2% y-o-y to EUR 67.7 million.
RSA Insurance Group plc (RSA) announced at the end of June the completion of the sale of its Latvian business, AAS BALTA, to the Polish insurance group PZU, after receiving the formal regulatory approval.
The Financial and Capital Markets Commission of Latvia gave consent to PZU to purchase the shares of AAS Balta - leader of the Latvian insurance market. This is another step in the international expansion of the biggest Polish insurer, informed BC Agnieszka Zebrowska from the corporate communication department at PZU Group.