Estonia, Financial Services, Insurance, Latvia, Lithuania, Markets and Companies

In the first half of 2018, BTA grossed 108.794 mln euros worth of insurance premiums, up 32.3% against the same period last year, and paid 56.657 mln euros in indemnities, up 43.1% year-on-year.

In Latvia, BTA premiums subscription in the first six months of this year reached 41 mln euros in contrast to 28.5 mln euros last year. In Lithuania premium subscription rose 26.4%, and in Estonia – 25.6%.

The company’s profit in Latvia tripled to 1.8 mln euros, in Lithuania it increased by 12.1% to 3.7 mln euros, while the company in Estonia sustained loss worth 1.3 mln euros.

In Latvia, health insurance lead by premium subscription with 3.9 mln euros (up 55.8%), followed by voluntary transport vehiche insurance with 8 mln euros (up 36.5%), and mandatory motor third party liability (MTPL) insurance with 7.9 mln euros (up 80.6%).

BTA paid 27.2 mln euros in indemnities, which is by 79.9% more than in the first six months of 2017. The largest amount or 8.3 mln euros was paid for MTPL insurance (up 117.5%), health insurance – 7.4 mln euros (up 0.9%), and land transport vehicle insurance – 6.3 mln euros (up 71.6%).

After InterRisk was merged with BTA at the end of 2017, the company’s market share in the Baltic states increased by 2percentage points to 15%.

BTA closed 2017 with an audited profit of 7.792 euros, growing fourfold against 2016. The key shareholder of BTA is Austria's Vienna Insurance Group (90%).