The Latvian insurance market totaled EUR 755.8 million at the end of December 2018, a 17% increase y-o-y. At the same time, insurance companies paid EUR 405.8 million in claims (12.2% more y-o-y).
According to end-year market data published by the FKTK, 64.7% of total GWP were written by local insurers (EUR 488.8 million), the rest were written by branches of EU insurers (EUR 266.9 million, or 35.3% of total GWP).
At the end of 2018, there were four non-life insurance companies and two life insurance companies operating in Latvia, as well as seven branches of foreign non-life insurance companies and four branches of foreign life insurance companies.
Access www.xprimm.com and download the FY2018 Latvian insurance market statistics.