In Latvia, the largest share of claims related to life and health insurance: 59% of the total amount of claims, or EUR 33 million paid out to customers in 2024. The total amount of claims for non-life (transport, property, civil, accident and travel insurance) reached EUR 23 million euros.
In non-life insurance, ERGO Baltics received around 112,000 claims last year, which is 2% more y-o-y. Of these, the largest number, or 64,000 claims, were registered in Lithuania (+4%), followed by Estonia with 29,000 claims, while in Latvia, around 18,200 insurance claims were received last year, which is 2% less than in 2023.
The majority (64%) of non-life insurance claims in Latvia were received in transport insurance (MTPL, Motor Hull), but the largest y-o-y increase was in private property insurance (+17%), which is related to the storm and rain in July. The July storm became the most devastating natural disaster of last year, and ERGO paid out EUR 2.9 million for the losses caused by it in the Baltic States – EUR 1.5 million of which in Latvia and EUR 1.4 million in Lithuania.
“Although the costs related to natural disasters increased last year, other indicators stabilized at the same time, which did not affect the total amount of non-life insurance payments. In risks related to property, the average compensation stabilized last year – we did not receive notifications about price increases from car repair shops. Similarly, there were fewer claims for fire accidents in property insurance, which usually cause large losses, and ERGO Latvia did not register any so-called "major insurance events with a loss amount of over EUR 1 million", said Sanita Rubene, Director of the ERGO Claims Regulation Department.
ERGO is one of the leading insurance groups in the Baltic region, offering a wide range of insurance services, including non-life, life and health insurance. ERGO's services, expert knowledge and financial stability are trusted by 640,000 customers in the Baltic States.
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