Latvian insurance market had a 10% growth rate in 2012, especially due to the good dynamic reported by the non-life insurance segment: GWP amounted to LVL 249 million (or EUR 354 million), 9.6% y-o-y up.

Non-life insurance segment takes over 90% share of the market portfolio, with a GWP volume of EUR 319 million, or 11% more, compared to FY2011. Analyzing the growth rates, the most impressive evolution in non-life was reported on the following business lines: GTPL (+38%), health (+27%), surety ship insurance (+12%) and motor hull (+10%) - which accounted for the one of the heaviest part of the market portfolio: 18%.

On the life insurance side the trend was negative, with a 2% decrease in GWP, to EUR 35 million due a strong depreciation of almost 30% on the unit-linked line, while on the traditional line the underwriting volume was 10% higher than in 2011.

Access www.xprimm.com and download the FY2012 Latvian insurance market statistics (in EUR and LVL) - Portfolio, premiums, claims, growth rates.