International Internet Magazine. Baltic States news & analytics
Saturday, 02.07.2016, 05:00
The Latvian Competition Council has allowed Austria's Vienna Insurance Group AG (Wiener Versicherung Grupp [VIG]) to take over Latvia's BTA Baltic Insurance Company (BTA Baltic), the competition watchdog informed LETA.
Keyword tags: EU – Baltic States, Financial Services, Insurance, Latvia, Legislation, Mergers and take-overs
The Motor Insurers' Bureau of Latvia (LTAB) has filed for insolvency of the to-be liquidated Balva non-like insurer, informs LETA.
In the first quarter of the year 2016, Latvian insurers earned EUR 2.7 million in profit, which is by 36% more than in the respective period last year, The Finance and Capital Market Commission reported LETA.
Latvia’s Balta non-life insurer in the first quarter of the year 2016 posted EUR 1.2 million in profit, the company said in a statement to the press, cites LETA.
The audited net profit of Balta insurance company in Latvia in 2015 was EUR 1.2 million, and premiums subscribed grew 22% from 2014, the company said LETA.
If P&C Insurance insurance company in Estonia and its subsidiaries in Latvia and Lithuania made EUR 3.1 million in profit in the first quarter of 2016, the company said LETA.
Lithuania's insurance market, as measured by premiums written, grew to 159.206 million euros in the first quarter of the year 2016, up 5.6% from 150.723 million euros in the same period last year, informs LETA, according to figures from the Bank of Lithuania.