Financial Services, Insurance, Latvia
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Saturday, 20.04.2024, 09:51
Loss of Latvia's BAN non-life insurer reaches EUR 43,100 in Q1
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In the first quarter of 2017, BAN raised EUR 3.922 mln in gross premiums, up 2.6% y-o-y, and paid out EUR 2.119 mln in indemnities, down 3.1%.
The largest amount of gross insurance premiums, worth EUR 1.352 mln, was recorded in mandatory motor third party liability (MTPL) insurance. Premiums in in motor own damage (MOD) insurance totaled EUR 715,800, and premiums in property insurance were worth EUR 672,700. Insurance agreements concluded in Latvia provided all premiums in the above types of insurance.
In the first quarter of this year, BAN paid EUR 999,800 in indemnities in MTPL insurance, EUR 684,300 in MOD insurance and EUR 251,600 in health insurance. All indemnities in the above types of insurance were paid under insurance agreements concluded in Latvia.
In the first quarter of 2016 BAN posted EUR 21,150 in loss.
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