The insurance company's marketing head Liene BRUNZETE told LETA that the new name was chosen in order to strengthen the insurer's position in the Latvian and Baltic market.
The company's CEO Eduards REINICANS voiced confidence that the launch of the new brand will start a new phase in the company's development. "We believe that our clients will appreciate all the advantages provided by the international insurance group, like the highest service standards and the launch of new insurance services," he said.
According to preliminary data released by the company, BALTIKUMS Vienna Insurance Group closed 2016 with a EUR 1.478 million loss, which grew 52.7% against 2015.
In 2016, BALTIKUMS Vienna Insurance Group recorded GWP of EUR 23.464 million and paid claims of EUR 17.194 million.