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International Internet Magazine. Baltic States news & analytics Monday, 01.06.2020, 01:26

Insurance company Balta posts EUR 5.926 mln in profit in 2017

BC, Riga , 01.03.2018.Print version
Insurance company Balta posted EUR 5.926 mln in unaudited profit last year, which is 47.2 % more than in 2016, according to the company's financial report released cites LETA.

Balta grossed EUR 88.9 mln in premiums last year, a 17.6 % increase on 2016. Balta's compensation payments amounted to EUR 46.929 mln - 5.3% more than in 2016.

2017 was a dynamic and eventful year for the insurance industry, said Balta. The insurance sector was growing rapidly thanks to such factors as the expanding construction industry and increasing popularity of insurance services. The negative factors included higher amounts of automobile insurance compensations and more expensive premiums, Balta commented.

In 2016, Balta operated with a profit of EUR 4.025 mln. Balta is part of PZU Group.

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