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Friday, 26.04.2024, 13:44
Balta non-life insurer posts 3.2 mln euros in H1 profit
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During the first half of 2018, Balta
grossed 53.4 mln euros in insurance premiums, up 21% against the same period in
2017, and paid out 27.8 mln euros in net indemnities, up 19%.
"Latvia’s insurance market keeps growing at a steep pace, and we are
growing along with the market. Assessing the current trends, there is a reason
to hope that the insurance sector will soon catch up with the volumes it saw
ten years ago before the financial crisis," said Balta board chairman Iain Kennedy.
In 2017, Balta reported 5.926 mln
euros in audited profit, up 47.2% against a year before.
In 2017, Balta raised gross
insurance premiums by 17.6% year-on-year to 88.922 mln euros and paid out 46.929
mln euros in indemnities, up 5.5% against 2016.
Since June 2014, Balta belongs to Poland’s Powszechny Zaklad Ubezpieczen S.A. (PZU).
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