Latvia
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Latvia 1H2026 Market Portfolio
Latvia 1Q2026 Market Portfolio
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LATVIA: 62% of cases settled and almost EUR 5.5 million paid a month after the most devastating storm in Latvia in recent years
It has been a month since the most devastating storm in Latvia in recent years, which caused widespread damage: thousands of trees were broken and uprooted, buildings and cars were damaged, agricultural fields were devastated, and properties were flooded.
29 September 2026STATISTICS: LATVIA, 1H2026: Paid claims grew much faster than premiums, driven by property insurance claims related to the winter weather
Latvian insurers ended H1 2026 with gross written premiums (GWP) worth EUR 748.33 million, 10.17% up y-o-y. Life insurance accounted for almost 20% of this total, while motor insurance is the business segment with the largest participation to the market portfolio (27.44%). At the same time, the amount of claims paid increased even more rapidly – by 17.6 %, reaching EUR 433 million.
24 September 2026LATVIA: Total amount of reserved claims after storm exceeds EUR 8 million
Insurers have so far received more than 4,800 insurance claims following the weekend storm, according to data compiled by the Latvian Insurers Association (LAA). They already have paid EUR 424,000 for the losses caused by the storm, while total amount of reserved claims reaches EUR 8.05 million.
1 September 2026STATISTICS: LATVIA 1Q2026: paid claims grew once again faster than premiums
Latvian insurers ended Q1 2026 with gross written premiums (GWP) worth EUR 403.84 million, 9.4% up y-o-y. Life insurance accounted for about 19.5% of this total, while motor insurance is the business segment with the largest participation to the market portfolio (~39% - MoD, MTPL and mandatory MTPL all together)
5 August 2026LATVIA: LAA: Over past three years accident insurance in Latvia rose 25%
The accident insurance market has been growing dynamically in all Baltic countries over the past three years. Compared to 2023, premiums or customer contributions has increased by 39% in Lithuania, 25% in Latvia, and 19% in Estonia, according to data compiled by the Latvian Insurers Association (LAA).
17 June 2026LATVIA: LAA: This heating season has been the most expensive in the last three years
As the winter was marked by persistent snow cover and prolonged negative temperatures, the number of insurance claims related to winter weather conditions and more intensive heating of homes increased last heating season, the Latvian Insurance Association (LAA) said.
12 May 2026STATISTICS: LATVIA FY2025: the insurance market maintained a steady growth
The Latvian insurance market saw a 9.87% increase in GWP, in 2025, to almost EUR 1.35 billion, data provided by the National Bank of Latvia show. Along with the decreasing inflation, both GWP and paid claims growth pace slowed last year, as compared with 2024.
Out of the total GWP, insurers who are members in the Latvian Insurers Association (LAA) recorded a business increase by 4.5%, to EUR 808 million.
Out of the total GWP, insurers who are members in the Latvian Insurers Association (LAA) recorded a business increase by 4.5%, to EUR 808 million.
19 March 2026LATVIA: Insured car thefts continue sharp decline, insurers report
The number of insured car thefts in Latvia continues to fall sharply, confirming a long-term downward trend in vehicle crime, according to data recently published by the Latvian Insurers Association (LAA).
5 February 2026STATISTICS: LATVIA 3Q2025: steady GWP growth; significantly lower claims that a year ago due to relatively calmer weather
According to the Q3 2025 market data published by the Financial and Capital Market Commission (FKTK), the Latvian insurance market totaled GWP worth EUR 1,008.3 million, about 9.8% more y-o-y.
22 January 2026STATISTICS: LATVIA 1H2025: GWP up by almost 19%, while paid claims only grey by 3.5%
Latvian insurers ended H1 2025 with gross written premiums (GWP) worth EUR 679.26 million, 9.8% up y-o-y. Life insurance accounted for almost 18.6% of this total, while motor insurance is the business segment with the largest participation to the market portfolio (27.53%).
25 September 2025STATISTICS: LATVIA 1Q2025: 12% market growth, while claims expenses growth slows down
Latvian insurers ended Q1 2025 with gross written premiums (GWP) worth EUR 369,18 million, 12.16% up y-o-y. Life insurance accounted for almost 19% of this total, while motor insurance is the business segment with the largest participation to the market portfolio (~39% - MoD, MTPL and mandatory MTPL all together)
21 August 2025LATVIA: LAA: Natural disasters are causing increasing damage to farmers
The impact of climate change is increasingly being felt in Latvia, causing significant losses to the agricultural sector. However, as data of the Latvian Insurers Association (LAA) shows, insurance coverage in this sector is volatile and usually increases after natural disasters, the LAA said.
17 July 2025LATVIA: LAA: In 2024, life insurance without savings grew by 14%
The life insurance market* reached a total of EUR 122 million last year, which is an increase of 5.1% y-o-y. Information collected by the Latvian Insurance Association (LAA) shows** that citizens are increasingly choosing to purchase life insurance without savings.
25 June 2025LATVIA: Jānis Abāšins re-elected as President of the Latvian Insurers Association
On June 19, at the Latvian Insurers Association (LAA) members' meeting its current head Jānis Abāšins was reelected as the organization's president for the next three-year term.
25 June 2025LATVIA: LAA survey: almost half of vehicle owners purchase Motor Hull insurance
A third of Latvian residents (33%) do not own a personal vehicle, while of those who do, almost half (47%) choose to purchase Motor Hull insurance. However, 53% of vehicle owners still do not buy this product according to a survey conducted by the Latvian Insurers Association (LAA).
11 June 2025LATVIA: This spring farmers received 86% less compensation than a year ago thanks to the mild winter
The past winter has been quite favorable for farmers and has not caused major damage to crops.
2 June 2025LATVIA: ERGO recognized by “Dive” as the insurance company with the best customer service in Latvia
In the annual customer service evaluation study of the company “Dive”, ERGO was recognized as the insurance company with the best customer service in Latvia, the Latvian Insurers Association (LAA) said.
29 May 2025LATVIA: life pension insurance is now starting to regain interest
Although the popularity of life insurance has declined over the past two years, this type of insurance is now starting to regain interest among residents, the Latvian Insurers Association (LAA) said.
5 May 2025LATVIA: The first Latvian insurance forum to be held on April 4
The first Latvian insurance forum will be held on April 4, bringing together representatives of insurance companies and brokers to discuss current issues and development directions in the industry. The forum also includes practical workshops, the Association announced.
1 April 2025LATVIA: Citizens are increasingly choosing accident insurance; paid claims also growing
Citizens in Latvia are increasingly choosing to insure themselves against accidents, and last year GWP in the segment rose by 12%, reaching EUR 20.1 million. Consequently, paid claims also grew by 10%, to EUR 7.6 million, according to data from the Latvian Insurers Association (LAA)*.
1 April 2025
