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.
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.
Ergo: insurance market in Latvia could increase by 7-8% in 2014. BC, Riga, 26.05.2014. Print version. The average growth of the insurance market in Latvia could increase 7-8% in 2014, Ergo Baltic States' board member Ingrida Kirse predicts, reports LETA.
Compensa TU S.A. Vienna Insurance Group (Compensa) nonlife insurer wrote 18.8m euros worth of premiums in Latvia and Lithuania in 2013, which was a 50 percent rise from a year before, the company's representative Katrina Rubene told BNS.
Financial and Capital Market Commission - FKTK reports that, in 2013, the Latvian insurance market grew by 5.3%, reaching EUR 471 million. The gross written premiums by local insurers decreased 1% y-o-y to EUR 350 million, while the gross premiums written by the EU branches totaled EUR 121 million or 30% more y-o-y.
The Latvian insurer BTA ended 2013 with a 12.2% increase in GWP, to EUR 160 million, while paid claims amounted to EUR 77.8 million, 13% up y-o-y. According to the company's unaudited results, the profit amounted to EUR 7.1 million.
According to the figures published by the Financial and Capital Market Commission - FKTK, the Latvian insurance market totaled at the end of September almost EUR 352 million, or 7.3% more y-o-y. The non-life segment accelerated by 5.7% y-o-y, while the value of life GWP increased by 17%.