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Friday, 27.05.2016, 11:22
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.
Keyword tags: Financial Services, Insurance, Latvia, Lithuania
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.
During the first three months of 2016, insurance companies in Latvia raised their gross premiums by 4.7% from the same period a year ago to EUR 102.141 million, while indemnities paid in the three-month period grew at a faster rate, by 13.4% year-on-year, to EUR 61.039 million, the data of the Latvian Insurers Association shows, cites LETA.
In the first quarter of 2016, Latvian insurance companies incurred a loss of EUR 1.97 million from motor third party liability (MTPL) insurance, informs LETA, according to the Motor Insurers' Bureau of Latvia.
Estonia's Minister of Health and Labor Jevgeni Ossinovski has put before the government a plan to restore the right of members of the management boards of companies to get the unemployment insurance benefit if they lose their job and income, provided that they get no remuneration for serving in the position of board member, informs LETA/BNS.
BTA Baltic Insurance Company that took over the Baltic business portfolio after restructuring of its parent company BTA Insurance Company SE, and started operations on July 1, 2015, posted EUR 4.2 million in audited gross profit and EUR 3.67 million in net profit, informs LETA.