Banks, Financial Services, Good for Business, Insurance, Latvia

Risk insurance companies achieved EUR 18.322 million in profit in January-June, an increase of 36.2% on the first half of 2019, while life insurers operated with a loss of EUR 4.785 million as compared to a profit in the same period last year.

In January-June 2019, Latvian insurance companies' profit amounted to EUR 15.374 million - risk insurance companies' profit stood at EUR 13.452 million and life insurers' profit at EUR 1.922 million.

At the end of June 2020, there were four risk insurance companies operating in Latvia - Balta, Baltijas Apdrosinasanas Nams, Baltia Insurance SE, and BTA Baltic Insurance Company, as well as two life insurance companies - SEB Life and Pension Baltic SE and CBL Life. In addition, there are eight foreign risk insurance companies' branches and four foreign life insurance companies' branches operating in Latvia.