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MTPL insurance has brought 6.221 mln euros profit in nine months 2018
BC, Riga, 13.11.2018.
Print version
Print versionLatvian insurance companies have posted a profit of 6.221 mln euros from mandatory motor third party liability (MTPL) insurance in the first nine months of 2018, in contrast to loss a year ago, informs LETA referring to the Motor Insurers' Bureau of Latvia (LTAB).
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According to LTAB data, in the first nine months of 2018 premiums in MTPL
insurance amounted to 52.115 mln euros, which is by 43.8% more than in the
respective period last year, while net claims reached 35.78 mln euros, growing
8.5% year-on-year.
In the first nine months of last year, insurers incurred 7.045 mln euros loss from MTPL insurance. MTPL insurance in Latvia is offered by nine non-life insurers.
The MTPL insurance system was introduced in Latvia in 1997.
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