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Latvia's BAN non-life insurer reports EUR 57,200 in nine-month profit

BC, Riga, 07.12.2018.Print version
Latvian non-life insurer Baltijas Apdrosinasanas Nams (BAN) made EUR 57,212 in profit in the first nine months of this year in contrast to loss in the respective period last year, according to information released by the company writes LETA.

In the first nine months of 2018, BAN wrote EUR 14.929 mln worth of gross insurance premiums, up 24.9% against the respective period in 2017, and paid EUR 6.907 mln in indemnities, up 15.3% y-o-y.


The largest amount of gross insurance premiums, worth EUR 8.062 mln, was recorded in mandatory motor third party liability (MTPL) insurance, up 48.3% year-on-year. Premiums in in motor own damage (MOD) insurance totaled EUR 2.877 mln, up 19.2%, and premiums in property insurance were worth EUR 1.392 mln, down 8%. All premiums in the above types of insurance were under insurance agreements concluded in Latvia.


BAN paid EUR 3.626 mln in indemnities in MTPL insurance, up 22.2% year-on-year, EUR 1.811 mln in MOD insurance, down 4.9%, and EUR 635,600 in health insurance, down 4.3%. All indemnities in the above types of insurance were paid under insurance agreements concluded in Latvia.


In the first nine months of 2017, BAN reported EUR 146,085 in loss.


The sole owner of BAN is BAN Holdings company.






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