STATISTICS: EU branches generated almost 30% of LATVIAN market in 3Q2014

According to the figures published by the Financial and Capital Market Commission - FKTK, the Latvian insurance market totaled at the end of September 2014 about EUR 378 million, or 7.6% more y-o-y. Of the total, gross premiums written by local insurers increased by EUR 10 million as compared to september 2013 (to EUR 271 million), while the gross premiums written by the EU branches reached more than EUR 107 million, or 28.3% of the total GWP.

All in all, by segments, the non-life sector accelerated by 4.7% y-o-y to EUR 308 million, while the value of life GWP increased by 22.3% to EUR 70 million. At the same time, as the FKTK's figures showed, the insurance companies paid almost EUR 206 million in claims.

The largest market segments were life insurance (18.6% of total GWP) and transport ownership liability (~16.9%) followed by motor hull (~16.5%), property (~16.3%), MTPL (~10.4%) and health insurance (~9.3%).

Access www.xprimm.com and download the 3Q2014 Latvian insurance market statistics.

Market portfolio (in EUR and LVL):
  • Gross written premiums
  • Paid claims
  • Growth rates

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