Baltic, Financial Services, Insurance

According to the International Financial Reporting Standards (IFRS), the amount of premiums written by Ergo in the Baltic States reached EUR 163 million in 2014. The company exceeded market growth indicators in all business sectors – non-life, life, and health insurance – increasing its market share to 12.6%. In 2014, the Baltic insurance market growth reached ER 7.9%, while Ergo registered a 10.3% increase.

"In 2014, Ergo successfully evolved and increased the market share, exceeding the average industry's growth. Stable and growing achievements are the best proof of our chosen strategy – focus on adapting products and services to our clients' needs," the company's CEO in the Baltics, Kestutis Bagdonavicius, said.

Premiums in Latvia reached the largest increase in the past five years. In 2014, the Latvian insurance market grew 10%, while Ergo registered a 20% increase. The largest growth was registered in life and non-insurance sectors.