Business in Latvia: Insurance

Insurance in Latvia has 391 companies taking actions in insurance industry, thus not all of them are direct insurers. However when searching in 1188.lv unofficial local catalog of companies the number grows up to 500 companies.

How much insurance company can earn?

Taking numbers from one of top insurance companies in Latvia - BTA insurance, in 2011, the Company concluded over 2 million insurance contracts which amounted to written 83 million LVL (155 million USD) gross premiums.

This insurance company also has all 18 non-life insurance licenses available in Latvia which allow the company to offer the widest range of insurance services to individuals and legal entities.

Conclusion

BTA is one of top insurers in Latvia with 46% market share in non-life insurance.
The conclusions mainly are that insurance market in Latvia hovers over 337 million USD market. Which is not a lot neither for Latvians, nor for foreigners.

There is space you can fill up by making your insurance company available in Latvia.

Disclaimer: I am in no way affiliated with BTA and I do not advertise them, however to visit their website click here.