Financial Services, Good for Business, Insurance, Latvia

International Internet Magazine. Baltic States news & analytics Tuesday, 20.08.2019, 19:26

Latvia's BAN non-life insurer reports EUR 252,700 in 2018 profit

BC, Riga, 13.03.2019.Print version
Latvian non-life insurer Baltijas Apdrosinasanas Nams (BAN) made EUR 252,731 in profit last year in contrast to loss in the previous year, according to information released by the company informed LETA/BNS.

In 2018, BAN wrote EUR 19.451 mln worth of gross insurance premiums, up 14.7% against 2017, and paid EUR 9.013 mln in indemnities, up 14.4% y-o-y.


The largest amount of gross insurance premiums, worth EUR 10.769 mln, was recorded in mandatory motor third party liability (MTPL) insurance, up 24.9% y-o-y. Premiums in in motor own damage (MOD) insurance totaled EUR 3.8 mln, up 13.4%, and premiums in property insurance were worth EUR 1.781 mln, down 6.7%. All premiums in the above types of insurance were under insurance agreements concluded in Latvia.


BAN paid EUR 4.742 mln in indemnities in MTPL insurance, up 22.5% y-o-y, EUR 2.437 mln in MOD insurance, down 1.3%, and EUR 845,300 in health insurance, down 4.6%. All indemnities in the above types of insurance were paid under insurance agreements concluded in Latvia.


In 2017, BAN reported EUR 54,338 in loss.


The sole owner of BAN is BAN Holdings company.






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