Non-life insurers reported EUR 16.1 million in 2018 aggregate profit, which is an increase of 7.4% against 2017, and life insurers posted a loss of EUR 3.7 million in contrast to a profit of EUR 1 million a year before.
The Latvian insurance market totaled EUR 755.8 million at the end of December 2018, a 17% increase y-o-y. At the same time, insurance companies paid EUR 405.8 million in claims (12.2% more y-o-y).
According to end-year market data published by the FKTK, 64.7% of total GWP were written by local insurers (EUR 488.8 million), the rest were written by branches of EU insurers (EUR 266.9 million, or 35.3% of total GWP).
At the end of 2018, there were four non-life insurance companies and two life insurance companies operating in Latvia, as well as seven branches of foreign non-life insurance companies and four branches of foreign life insurance companies.
Access www.xprimm.com and download the FY2018 Latvian insurance market statistics.
The Latvian insurance market totaled EUR 755.8 million at the end of December 2018, a 17% increase y-o-y. At the same time, insurance companies paid EUR 405.8 million in claims (12.2% more y-o-y).
According to end-year market data published by the FKTK, 64.7% of total GWP were written by local insurers (EUR 488.8 million), the rest were written by branches of EU insurers (EUR 266.9 million, or 35.3% of total GWP).
At the end of 2018, there were four non-life insurance companies and two life insurance companies operating in Latvia, as well as seven branches of foreign non-life insurance companies and four branches of foreign life insurance companies.
Access www.xprimm.com and download the FY2018 Latvian insurance market statistics.
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