Financial Services, Insurance, Latvia

In 2017, BAN wrote EUR 16.963 mln worth of gross insurance premiums, up 23.5% against 2016, and paid EUR 7.879 mln in indemnities, up 2.7% y-o-y.

The largest amount of gross insurance premiums, worth EUR 8.623 mln, was recorded in mandatory motor third party liability (MTPL) insurance, up 60.6 % y-o-y. Premiums in in motor own damage (MOD) insurance totaled EUR 3.35 mln, up 4.2%, and premiums in property insurance were worth EUR 1.909 mln, down 17.2%. All premiums in the above types of insurance were under insurance agreements concluded in Latvia.

In 2017, BAN paid EUR 3.87 mln in indemnities in MTPL insurance, up 10% y-o-y, EUR 2.468 mln in MOD insurance, up 2.7%, and EUR 886,500 in health insurance, down 14.1%. All indemnities in the above types of insurance were paid under insurance agreements concluded in Latvia.

In 2016, BAN generated EUR 44,193 in annual profit.

The sole owner of BAN is BAN Holdings company.