Financial Services, Insurance, Latvia

The amount of premiums written by Latvian insurance companies' subsidiaries in foreign countries, reached EUR 125.5 million, which is 3% more than in the first three quarters of 2013. The amount of gross premiums written by insurance companies in Latvia, reached EUR 251,5 million, which is 8% more than in the first three quarters of 2013. Thus, the total amount of premiums written by all insurance companies registered in Latvia, reached EUR 377 million, which is 7% more than in the first half of 2013.

The amount of insurance claims paid outside of Latvia reached EUR 64.4 million, in Latvia – EUR 142.6 million. The total amount of insurance claims paid reached EUR 207 million, which is a 2% increase.

The most popular type of insurance outside of Latvia was third party insurance (50.6% of all premiums written outside of Latvia), with EUR 63.8 million premiums written, and EUR 40.6 million paid.

CASCO insurance had a slight decline outside of Latvia – a 4% decrease. However, the total amount of CASCO premiums written increased by 3%, reaching EUR 62.5 million. The total amount of CASCO claims paid increased by 34%.