International Internet Magazine. Baltic States news & analytics
Sunday, 05.07.2015, 05:42
The European Commission has renewed integration efforts in the most complicated financial sphere – insurance service. The new Insurance Distribution Directive (IDD), intends to improve the way insurance products are sold and bring real benefits to consumers and retail investors. The IDD’s text has been approved by the EU’s “legislative trio”: the Parliament, the Council and the Commission.
Keyword tags: EU – Baltic States, Financial Services, Insurance, Legislation, Markets and Companies
Among residents of the Baltic States, the ERGO Security Index has shown a slight improvement in the mood of people in Latvia and Lithuania in comparison to last year, while it has declined by two points in Estonia. The overall index in Latvia in 2015 is -12 (-13 last year), in Lithuania it is -4 (-5), while in Estonia it has dropped from +8 in 2014 to +6 this year, reports BC ERGO communication manager Inese Kronberga.
Bank of Lithuania identified the 'grey' zones, which don’t ensure proper protection of consumer interests01.06.2015
Having recently investigated the unit-linked life assurance market in several directions, the Bank of Lithuania puts forward for a public discussion proposals on how to deal with fundamental problems within this fast developing market, reports LETA/ELTA.
In 2014, the number of recipients of old-age pensions paid by the State Social Insurance Fund (Sodra) decreased by a thousand to 599,600. By the end of 2014, as much as 923,200 people received at least one type of pension, i.e. one in three Lithuanians, writes LETA/ELTA.
On Thursday morning, Lithuanian Prime Minister Algirdas Butkevicius met with Bengt-Ake Fagerman, CEO of Skandia, one of the largest Sweden's banking and insurance groups. CEO Fagerman presented to the PM Thule Customer Service Centre, to be opened up in Lithuania. Butkevicius in his turn emphasized the benefit of Sweden's investment to Lithuania, as well as discussed future prospects, reported BC the press service of the Government.
The insurance company Balta earned EUR 96,000 in the first quarter this year, reports LETA, according to the company's announcement.
The total earnings of the insurance company Ergo in the Baltic States reached EUR 2.29 million in the first quarter of the year 2015, which is 15.3% more than in the respective period last year, reports LETA.