The Latvian insurance market totaled EUR 618.8 million at the end of September 2021, about 3.7% more y-o-y, according to data published by the Financial and Capital Market Commission (FKTK).
13 January 2022
According to the Q3 2021 market data published by the Financial and Capital Market Commission (FKTK), Latvian insurers' aggregate net profits expanded by EUR 2.1 million (or by 9% y-o-y) to EUR 25.2 million (vs. EUR 23.1 million).
10 January 2022
The insurance industry returned to growth in the third quarter of 2021 after a five-quarter break, during which the entire Latvian economy was struggling with the consequences of the Covid-19 pandemic, said the Latvian Insurers Association (LAA)
in its statement.
21 December 2021
On November 4, 2021, a meeting of members of the Latvian Insurers' Association (LAA) was held, at which two members of the association's management were re-elected for a two-year term, as well as the association's work plan and budget for 2022 were approved, as
LAA announced on its website.
8 November 2021
Latvian insurance industry has returned to growth in the third quarter of 2021 after five quarters of decreasing GWP, informed the Latvian Insurers' Association (LAA). LAA representatives mentioned that despite the local economy is still struggling with the consequences of the Covid-19 pandemic - the total amount of Q3 2021 GWP has increased by 2.9% compared to the previous year.
3 November 2021
The study conducted by the Ministry of Economics on the changes in labor and construction material costs in 2021-2025 indicates that construction costs will increase by a record 6.6% in 2021 compared to 2020, reaching the highest increase in 9 years.
26 October 2021
In the two quarters of this year, the largest type of insurance in Latvia in terms of sales volume was health insurance, which makes up 23% of the total GWP. The number of life insurance contracts has decreased, while property insurance has increased,
the local press said.
4 October 2021
Cyber insurance, sustainability, and current initiatives in the field of transport insurance were the main topics of the 18th International Conference "Insurance and Reinsurance in the Baltics 2021", which was organized by the
Latvian Insurers' Association (LAA) on September 23.
27 September 2021
Latvian insurers' six months 2021 aggregate GWP remained at the H1 2020 level (local and EU branches, summed-up) totaling ~EUR 406.7 million, while the amount paid in claims and indemnities increased by 1.8% y-o-y to EUR 249.5 million, according to the half-year figures published by The Financial and Capital Market Commission of Latvia (FKTK).
14 September 2021
Consequences of water accidents caused almost half of all property accidents reported to insurers - last year about 45% of all insurance events were caused by problems with water supply, sewerage, and heating pipes, according to the
Latvian Insurers Association (LAA). In turn, water accidents accounted for only about 25% of paid claim amount.
8 September 2021
In the first half of 2021 the insurance market remained stable - although economic situation is very volatile, total GWP amount and paid claims remained at last year's level, as the
Latvian Insurers' Association (LAA) reported last week.
3 August 2021
Q1 201 Latvian insurers' aggregate GWP (local and EU branches, summed-up) totaled EUR 215.29 million, almost EUR 10 million less than in Q1 2020, according to the quarterly figures published by The Financial and Capital Market Commission of Latvia (FKTK).
17 June 2021
Latvian insurers' aggregate net profits totaled EUR 10.40 million vs. a net loss of EUR -3.52 million in Q1 2020, according to data presented by the Finance and Capital Market Commission (FKTK).
14 June 2021
According to a joint study conducted by the Latvian Insurers' Association (LAA) and the sociological research agency Norstat, over the past year, as a result of Covid-19 pandemic, more than a quarter (27%) of Latvian society has changed their perception of the importance of family financial stability.
25 May 2021
During last year, Latvian insurers' aggregate GWP (local and EU branches, summed-up) totaled EUR 797.5 million, almost EUR 60 million less than in 2019, while the amount paid in claims and indemnities decreased by 8.8% y-o-y to EUR 501 million, according to the year-end figures published by The Financial and Capital Market Commission of Latvia (FKTK).
25 March 2021
Latvian insurers' aggregate net profits expanded by 58.7% during last year (or by almost EUR 20 million in absolute value) to EUR 53.38 million, according to data presented by the Finance and Capital Market Commission (FKTK).
23 March 2021
RENOMIA purchased a majority stake in R&D APDROSINASANAS BROKERS (R&D Insurance Brokers Ltd.), a local company based in Riga and strengthened its position within Central and Eastern Europe (CEE) as Latvia became the eighth European country in which RENOMIA has direct representation.
19 January 2021
The Latvian insurance market totaled EUR 597 million at the end of September 2020, about 1.4% more y-o-y, according to data published by the Financial and Capital Market Commission (FKTK).
17 December 2020
Vienna Insurance Group AG (VIG), has become 100% owner of BTA Baltic Insurance Company AAS (BTA) shares, the insurance market leader of Latvia.
3 November 2020
Latvian insurance companies generated EUR 13.53 million in aggregate H1 net profit, 12% less than a year ago (EUR 15.37 million), the end-June figures published by FKTK (Financial and Capital Market Commission) showed.
22 October 2020