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Thursday, 25.08.2016, 05:41
Austria's Vienna Insurance Group (VIG), one of the biggest European insurers, has been cleared to buy Latvia's BTA Baltic Insurance Company (BTA), however, will have to sell international carrier insurance in exchange, reports LETA/BNS.
Keyword tags: Financial Services, Insurance, Latvia, Lithuania, Markets and Companies
Lithuania's insurance market, including branches of foreign companies, totaled 330.205 mln euros in the first half of this year in terms of insurance premiums, up by 5.7% year-on-year, reports LETA/BNS.
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.
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.