Employers are increasingly purchasing health insurance, and in 2024 in terms of GWP, this type of insurance was in the leading positions, occupying 22.6% of the insurance market*.

To increase the population’s knowledge about health insurance, the Latvian Insurers Association (LAA) has prepared a roadmap, which is the third one in the “What You Need to Know About Insurance” campaign.

Last year, GWP in health insurance according to preliminary estimates reached EUR 180.6 million, and the segment demonstrated the fastest growth among all insurance types – 16.6%. The largest amount of paid claims was also recorded in health insurance – EUR 118 million, which is 8.9% more y-o-y.

“The increase in health insurance segment could also be due to the fact that, as of January 1, 2024, the limit by which employers can purchase health insurance policies for their employees with tax benefits was expanded”, says Jānis Abāšins, President of the LAA.

* Data source: initial data based on the performance results of 3 risk insurers operating in Latvia (Balta, Baltijas Apdrošināšanas Nams and BTA Baltic Insurance Company) and 5 branches of foreign risk insurers (Compensa, ERGO, Gjensidige, If Apdrošināšana, Swedbank P&C), as well as 2 life insurers (CBL Life and SEB Life and Pension Baltic SE) and 4 branches of foreign life insurers (Compensa Life, ERGO Life, SB draudimas, Swedbank Life) in the territory of Latvia.