The Latvian market

Over three quarters of 2013, non-life insurance companies obtained a gross written premium of EUR 237.2 m, which constitutes a decline of 1.5% compared with the same period of the previous year. TPL motor insurance (31.5%) and motor own damage insurance (28.8%), as well as non-life insurance (16.5%) accounted for the largest share of the product structure.

Thirteen non-life insurance companies were operating in Latvia at the end of September 2013 (including 8 branches of insurance companies registered in another member state). The largest life insurance company in Latvia in terms of gross written premiums was BTA, which had a 26.4% market share. The next places were taken by Gjensidige (20.6%), Balta (18.1%) and IF (8.7%).