International Internet Magazine. Baltic States news & analytics
Sunday, 31.07.2016, 08:20
The Norwegian insurance group Gjensidige that acquired the Lithuanian insurer PZU Lietuva at the beginning of the year made a loss of 41.4 mln Norwegian kroner or approximately 4.5 mln euros in the Baltic countries in the first half of 2016, writes LETA/BNS.
Keyword tags: Baltic, Financial Services, Insurance, Statistics
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.
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.