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International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 14:06

Latvian insurers generate EUR 5.966 mln profit from mandatory MTPL insurance in H1

BC, Riga, 20.08.2019.Print version
Last year, Latvian insurance companies generated EUR 5.966 mln in aggregate profit from mandatory motor third party liability (MTPL) insurance, up 71.1% from the respective period last year, LETA was told at the Motor Insurers' Bureau of Latvia (LTAB).

In the first six months of this year premium subscription in MTPL insurance amounted to EUR 35.952 mln, up 9% from the respective period last year, while net indemnities accounted for EUR 22.709 mln, growing 0.7% y-o-y.


As reported, in 2018, Latvian insurance companies generated EUR 3.61 mln in aggregate profit from mandatory motor third party liability (MTPL) insurance, recovering from losses incurred from MTPL insurance in 2017.


There are nine non-life insurers offering mandatory MTPL insurance in Latvia.






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