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The Insurance Industry in Latvia, Key Trends and Opportunities to 2022

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Details

The Insurance Industry in Latvia, Key Trends and Opportunities to 2022

 

Summary

 

GlobalData's "The Insurance Industry in Latvia, Key Trends and Opportunities to 2022" report provides detailed analysis of the market trends, drivers and challenges in the Latvian insurance industry.

 

It provides key performance indicators such as written premium and claims during the review period (2013-2017) and forecast period (2017-2022).

 

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Latvian economy and demographics, and provides detailed information on the competitive landscape in the country.

 

The report brings together GlobalData's research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

 

Inside this report, we look at the top themes, its predictions and identify winners and losers.

 

The report provides in-depth market analysis, information and insights into the Latvian insurance industry, including-

- The Latvian insurance industry's growth prospects by segment and category

- A comprehensive overview of the Latvian economy and demographics

- Details of the competitive landscape in the Latvian insurance industry

- The various distribution channels in the Latvian insurance industry

- Details of regulatory policy applicable to the Latvian insurance industry

- Analysis of natural hazards in the Latvian insurance industry.

 

Scope

 

- This report provides a comprehensive analysis of the insurance industry in Latvia

- It provides historical values for the Latvian insurance industry for the report's 2013-2017 review period, and projected figures for the 2017-2022 forecast period.

- It offers a detailed analysis of the key segments in the Latvian insurance industry, with market forecasts to 2022.

- It covers an exhaustive list of parameters, including written premium and claims.

- It analyzes the various distribution channels in Latvia.

- It profiles the top insurance companies in Latvia, and outlines the key regulations affecting them.

 

Reasons to buy

 

- Make strategic business decisions using in-depth historic and forecast market data related to the Latvian insurance industry and each segment and category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Latvian insurance industry.

- Assess the competitive dynamics in the Latvian insurance industry.

- Identify the growth opportunities and market dynamics in key segments.

- Gain insights into key regulations governing the Latvian insurance industry and their impact on companies and the industry's future.

READ MORE

Table Of Content

Scope

Table of Contents

1 Key Facts and Highlights

2 Executive Summary

3 Economy and Demographics

4 Industry Outlook

4.1 Industry Indicators

4.1.1 Gross written premium

4.1.2 Direct written premium

4.1.3 Insurance density

4.1.4 Paid claims

5 Life Insurance Outlook

5.1 Segment Indicators

5.1.1 Gross written premium

5.1.2 Direct written premium

5.1.3 Paid claims

5.1.4 Penetration

5.1.5 Assets and investments

5.2 Individual Life Insurance

5.2.1 Gross written premium

5.2.2 Penetration

5.3 Group Life Insurance

5.3.1 Gross written premium

5.3.2 Penetration

6 General Insurance Outlook

6.1 Segment Indicators

6.1.1 Gross written premium

6.1.2 Direct written premium

6.1.3 Paid claims

6.1.4 Penetration

6.1.5 Loss ratio

6.1.6 Assets and investments

6.2 Property Insurance

6.2.1 Direct written premium

6.2.2 Penetration

6.3 Motor Insurance

6.3.1 Direct written premium

6.3.2 Penetration

6.4 Liability Insurance

6.4.1 Direct written premium

6.4.2 Penetration

6.5 Financial Lines Insurance

6.5.1 Direct written premium

6.5.2 Penetration

6.6 Marine, Aviation and Transit Insurance

6.6.1 Direct written premium

6.6.2 Penetration

6.7 Personal Accident and Health Insurance

6.7.1 Direct written premium

6.7.2 Penetration

6.8 Miscellaneous

6.8.1 Direct written premium

6.8.2 Penetration

7 Reinsurance Outlook

7.1 Premium Ceded

8 Distribution Channel Outlook

9 Natural and Man-Made Hazards

9.1 Storms

9.2 Coastal erosion and flooding

9.3 Wildfires

9.4 Exposure

10 Competitive Landscape

10.1 Company Profiles

10.1.1 AAS BTA Baltic Insurance Company- Company Overview

10.1.2 Balcia Insurance SE Overview-company overview

10.1.3 Insurance Joint Stock Company BALTA- Company Overview

10.1.4 Baltijas Apdrosin?sanas Nams Insurance Joint Stock-company overview

10.1.5 CBL Life Insurance Joint Stock Company-company overview

10.1.6 Insurance Joint Stock Company SEB Dz?v?bas Apdrosin?sana-company overview

11 Governance, Risk and Compliance

11.1 Legislation Overview and Historical Evolution

11.2 Latest Changes in Regulation

11.3 Legislation and Market Practice by Type of Insurance

11.3.1 Life insurance

11.3.2 Property insurance

11.3.3 Motor insurance

11.3.4 Liability insurance

11.3.5 Marine, aviation and transit insurance

11.3.6 Personal accident and health insurance

11.4 Compulsory Insurance

11.4.1 Motor third-party liability insurance

11.4.2 Air carriers and aircraft operators insurance

11.4.3 Professional indemnity insurance for alternative investment fund managers

11.4.4 Liability for ships with respect to oil pollution

11.4.5 Third party liability insurance for bailiffs

11.4.6 Clinical trial liability

11.4.7 Professional liability insurance for insurance intermediaries

11.4.8 Health insurance

11.5 Supervision and Control

11.5.1 International Association of Insurance Supervisors

11.5.2 European Insurance and Occupational Pensions Authority

11.5.3 Federation of European Risk Management Associations

11.5.4 Federation of European Risk Management Associations

11.6 Non-Admitted Insurance Regulations

11.6.1 Overview

11.6.2 Intermediaries

11.6.3 Market practices

11.6.4 Fines and Penalties

11.7 Company Registration and Operations

11.7.1 Type of insurance organization

11.7.2 Establishing a local company

11.7.3 Foreign ownership

11.7.4 Types of license

11.7.5 Capital requirements

11.7.6 Solvency margin

11.7.7 Reserve requirements

11.7.8 Investment regulations

11.7.9 Statutory return requirements

11.7.10 Fee structure

11.8 Taxation

11.8.1 Insurance premium or policy taxation

11.8.2 Withholding taxes on premium paid overseas

11.8.3 Corporate tax

11.8.4 VAT

11.8.5 Captives

11.9 Legal System

11.9.1 Introduction

11.9.2 Access to court

11.9.3 Alternative dispute resolution

12 Databook

12.1 Life Insurance

12.1.1 Policies and premium

12.1.2 Claims and expenses

12.1.3 Assets and investments

12.1.4 Individual life insurance

12.1.5 Group life insurance

12.1.6 Linked vs non-linked policies

12.2 General Insurance

12.2.1 Policies and premium

12.2.2 Claims and expenses

12.2.3 Assets and investments

12.2.4 Property insurance

12.2.5 Property insurance by category

12.2.6 Motor insurance

12.2.7 Motor insurance by category

12.2.8 Liability insurance

12.2.9 Financial lines insurance

12.2.10 Marine, aviation and transit insurance

12.2.11 Marine, aviation and transit insurance by category

12.2.12 Personal accident and health insurance

12.2.13 Personal accident and health insurance by category

12.2.14 Miscellaneous

13 Definitions and Methodology

13.1 Definitions

13.2 Methodology

14 About GlobalData

14.1 Contact GlobalData

14.2 About GlobalData

14.3 GlobalData's Services

14.4 Disclaimer


List Of Figure

List of Figures

Figure 1: Latvian Real GDP (EUR Billion), 2013-2022

Figure 2: Latvian Exchange Rate (EUR per USD ), 2013-2022

Figure 3: Latvian Consumer Price Inflation (%), 2013-2022

Figure 4: Latvian Current Account Balance as Percentage of GDP (%), 2013-2016

Figure 5: Latvian Unemployment Rate, 2013-2022

Figure 6: Latvian Population by Age Group, 1990-2025

Figure 7: Latvian Insurance Industry-Gross Written Premium (EUR Million), 2013-2022

Figure 8: Latvian Insurance Industry-Direct Written Premium (EUR Million), 2013-2022

Figure 9: Latvian Insurance Industry-Density (EUR), 2013-2022

Figure 10: Latvian Insurance Industry-Paid Claims (EUR Million), 2013-2022

Figure 11: Latvian Life Insurance-Gross Written Premium (EUR Million), 2013-2022

Figure 12: Latvian Life Insurance-Direct Written Premium (EUR Million), 2013-2022

Figure 13: Latvian Life Insurance-Paid Claims (EUR Million), 2013-2022

Figure 14: Latvian Life Insurance-Penetration (%), 2013-2017

Figure 15: Latvian Life Insurance-Penetration (%), 2017-2022

Figure 16: Latvian Life Insurance-Total Assets (EUR Million), 2013-2022

Figure 17: Latvian Individual Life Insurance-Gross Written Premium (EUR Million), 2013-2022

Figure 18: Latvian Individual Life Insurance-Penetration (%), 2013-2017

Figure 19: Latvian Individual Life Insurance-Penetration (%), 2017-2022

Figure 20: Latvian Group Life Insurance-Gross Written Premium (EUR Million), 2013-2022

Figure 21: Latvian Group Life Insurance-Penetration (%), 2013-2017

Figure 22: Latvian Group Life Insurance-Penetration (%), 2017-2022

Figure 23: Latvian General Insurance-Gross Written Premium (EUR Million), 2013-2022

Figure 24: Latvian General Insurance-Direct Written Premium (EUR Million), 2013-2022

Figure 25: Latvian General Insurance-Paid Claims (EUR Million), 2013-2022

Figure 26: Latvian General Insurance-Penetration (%), 2013-2017

Figure 27: Latvian General Insurance-Penetration (%), 2017-2022

Figure 28: Latvian General Insurance-Loss Ratio (%), 2013-2017

Figure 29: Latvian General Insurance-Loss Ratio (%), 2017-2022

Figure 30: Latvian General Insurance-Total Assets (EUR Million), 2013-2022

Figure 31: Latvian General Insurance-Total Investment Income (EUR Million), 2013-2022

Figure 32: Latvian Property Insurance-Direct Written Premium (EUR Billion), 2013-2022

Figure 33: Latvian Property Insurance-Penetration (%), 2013-2017

Figure 34: Latvian Property Insurance-Penetration (%), 2017-2022

Figure 35: Latvian Motor Insurance-Direct Written Premium (EUR Million), 2013-2022

Figure 36: Latvian Motor Insurance-Penetration (%), 2013-2017

Figure 37: Latvian Motor Insurance-Penetration (%), 2017-2022

Figure 38: Latvian Liability Insurance-Direct Written Premium (EUR Billion), 2013-2022

Figure 39: Latvian Liability Insurance-Penetration (%), 2013-2017

Figure 40: Latvian Liability Insurance-Penetration (%), 2017-2022

Figure 41: Latvian Financial Lines Insurance-Gross Written Premium (EUR Million), 2013-2022

Figure 42: Latvian Financial Lines Insurance-Penetration (%), 2013-2017

Figure 43: Latvian Financial Lines Insurance-Penetration (%), 2017-2022

Figure 44: Latvian Marine, Aviation and Transit Insurance-Direct Written Premium (EUR Million), 2013-2022

Figure 45: Latvian Marine, Aviation and Transit Insurance-Penetration (%), 2013-2017

Figure 46: Latvian Marine, Aviation and Transit Insurance-Penetration (%), 2017-2022

Figure 47: Latvian Personal Accident and Health Insurance-Direct Written Premium (EUR Million), 2013-2022

Figure 48: Latvian Personal Accident and Health Insurance-Penetration (%), 2013-2017

Figure 49: Latvian Personal Accident and Health Insurance-Penetration (%), 2017-2022

Figure 50: Latvian Miscellaneous-Direct Written Premium (EUR Thousand), 2013-2022

Figure 51: Latvian Miscellaneous-Penetration (%), 2013-2017

Figure 52: Latvian Miscellaneous-Penetration (%), 2017-2022

Figure 53: Latvian Reinsurance-Premium Ceded by Insurance Segment (EUR Million), 2013-2022

Figure 54: Latvian Life Insurance-Percentage of Reinsurance Ceded (%), 2013-2022

Figure 55: Latvian General Insurance-Percentage of Reinsurance Ceded (%), 2013-2022

Figure 56: Latvia-The Three Pillars of Solvency II

Figure 57: Latvia-Insurance Supervision and Control at Various Levels

Figure 58: Latvia-Insurance Regulatory Frameworks for Company Registration and Operation


List Of Table

List of Tables

Table 1: Latvian Insurance Industry-Key Facts, 2017

Table 2: Latvian Insurance Industry-Leading Insurers, 2017

Table 3: Latvian Government Credit Ratings

Table 4: Latvian Insurance Industry-Gross Written Premium (EUR Million and USD Million), 2013-2017

Table 5: Latvian Insurance Industry-Gross Written Premium (EUR Million and USD Million), 2017-2022

Table 6: Latvian Insurance Industry-Direct Written Premium (EUR Million and USD Million), 2013-2017

Table 7: Latvian Insurance Industry-Direct Written Premium (EUR Million and USD Million), 2017-2022

Table 8: Latvian Insurance Industry-Density (EUR), 2013-2017

Table 9: Latvian Insurance Industry-Density (EUR), 2017-2022

Table 10: Latvian Insurance Industry-Paid Claims (EUR Million and USD Million), 2013-2017

Table 11: Latvian Insurance Industry-Paid Claims (EUR Million and USD Million), 2017-2022

Table 12: Latvian Life Insurance-Gross Written Premium (EUR Million and USD Million), 2013-2017

Table 13: Latvian Life Insurance-Gross Written Premium (EUR Million and USD Million), 2017-2022

Table 14: Latvian Life Insurance-Direct Written Premium (EUR Million and USD Million), 2013-2017

Table 15: Latvian Life Insurance-Direct Written Premium (EUR Million and USD Million), 2017-2022

Table 16: Latvian Life Insurance-Paid Claims (EUR Million and USD Million), 2013-2017

Table 17: Latvian Life Insurance-Paid Claims (EUR Million and USD Million), 2017-2022

Table 18: Latvian Life Insurance-Total Assets (EUR Million and USD Million), 2013-2017

Table 19: Latvian Life Insurance-Total Assets (EUR Million and USD Million), 2017-2022

Table 20: Latvian Individual Life Insurance-Gross Written Premium (EUR Million and USD Million), 2013-2017

Table 21: Latvian Individual Life Insurance-Gross Written Premium (EUR Million and USD Million), 2017-2022

Table 22: Latvian Group Life Insurance-Gross Written Premium (EUR Million and USD Million), 2013-2017

Table 23: Latvian Group Life Insurance-Gross Written Premium (EUR Million and USD Million), 2017-2022

Table 24: Latvian General Insurance-Gross Written Premium (EUR Million and USD Million), 2013-2017

Table 25: Latvian General Insurance-Gross Written Premium (EUR Million and USD Million), 2017-2022

Table 26: Latvian General Insurance-Direct Written Premium (EUR Million and USD Million), 2013-2017

Table 27: Latvian General Insurance-Direct Written Premium (EUR Million and USD Million), 2017-2022

Table 28: Latvian General Insurance-Paid Claims (EUR Million and USD Million), 2013-2017

Table 29: Latvian General Insurance-Paid Claims (EUR Million and USD Million), 2017-2022

Table 30: Latvian General Insurance-Total Assets (EUR Million and USD Million), 2013-2017

Table 31: Latvian General Insurance-Total Assets (EUR Million and USD Million), 2017-2022

Table 32: Latvian General Insurance-Total Investment Income (EUR Million and USD Million), 2013-2017

Table 33: Latvian General Insurance-Total Investment Income (EUR Million and USD Million), 2017-2022

Table 34: Latvian Property Insurance-Direct Written Premium (EUR Million and USD Million), 2013-2017

Table 35: Latvian Property Insurance-Direct Written Premium (EUR Million and USD Million), 2017-2022

Table 36: Latvian Motor Insurance-Direct Written Premium (EUR Million and USD Million), 2013-2017

Table 37: Latvian Motor Insurance-Direct Written Premium (EUR Million and USD Million), 2017-2022

Table 38: Latvian Liability Insurance-Direct Written Premium (EUR Million and USD Million), 2013-2017

Table 39: Latvian Liability Insurance-Direct Written Premium (EUR Million and USD Million), 2017-2022

Table 40: Latvian Financial Lines Insurance-Direct Written Premium (EUR Million and USD Million), 2013-2017

Table 41: Latvian Financial Lines Insurance-Direct Written Premium (EUR Million and USD Million), 2017-2022

Table 42: Latvian Marine, Aviation and Transit Insurance-Direct Written Premium (EUR Million and USD Million), 2013-2017

Table 43: Latvian Marine, Aviation and Transit Insurance-Direct Written Premium (EUR Million and USD Million), 2017-2022

Table 44: Latvian Personal Accident and Health Insurance-Direct Written Premium (EUR Million and USD Million), 2013-2017

Table 45: Latvian Personal Accident and Health Insurance-Direct Written Premium (EUR Million and USD Million), 2017-2022

Table 46: Latvian Miscellaneous-Direct Written Premium (EUR Thousand and USD Thousand), 2013-2017

Table 47: Latvian Miscellaneous-Direct Written Premium (EUR Thousand and USD Thousand), 2017-2022

Table 48: Latvian Reinsurance-Premium Ceded by Insurance Segment (EUR Million), 2013-2017

Table 49: Latvian Reinsurance-Premium Ceded by Insurance Segment (EUR Million), 2017-2022

Table 50: AAS BTA Baltic Insurance Company-Key Facts

Table 51: Balcia Insurance SE-Key Facts

Table 52: Insurance Joint Stock Company BALTA-Key Facts

Table 53: Baltijas Apdrosin?sanas Nams Insurance Joint Stock-Key Facts

Table 54: CBL Life Insurance Joint Stock Company-Key Facts

Table 55: Insurance Joint Stock Company SEB Dz?v?bas Apdrosin?sana Key Facts

Table 56: Latvia-Insurance Regulatory Framework Key Features

Table 57: Latvia-Life Insurance Regulatory Framework

Table 58: Latvia-Property Insurance Regulatory Framework

Table 59: Latvia- Motor Insurance Regulatory Framework

Table 60: Latvia-Liability Insurance Regulatory Framework

Table 61: Latvia-Minimum Coverage for Aircraft Third-Party Liability Per Accident Per Aircraft

Table 62: Latvia-Corporate Tax Rates for the Financial Year 2017

Table 63: Latvian Life Insurance-Policies and Premium, 2013-2017

Table 64: Latvian Life Insurance-Policies and Premium, 2017-2022

Table 65: Latvian Life Insurance-Claims and Expenses, 2013-2017

Table 66: Latvian Life Insurance-Claims and Expenses, 2017-2022

Table 67: Latvian Life Insurance-Assets and Investments, 2013-2017

Table 68: Latvian Life Insurance-Assets and Investments, 2017-2022

Table 69: Latvian Life Insurance-Individual Life Insurance, 2013-2017

Table 70: Latvian Life Insurance-Individual Life Insurance, 2017-2022

Table 71: Latvian Life Insurance-Group Life Insurance, 2013-2017

Table 72: Latvian Life Insurance-Group Life Insurance, 2017-2022

Table 73: Latvian Life Insurance-Linked vs Non-Linked Policies, 2013-2017

Table 74: Latvian Life Insurance-Linked vs Non-Linked Policies, 2017-2022

Table 75: Latvian General Insurance-Policies and Premium, 2013-2017

Table 76: Latvian General Insurance-Policies and Premium, 2017-2022

Table 77: Latvian General Insurance-Claims and Expenses, 2013-2017

Table 78: Latvian General Insurance-Claims and Expenses, 2017-2022

Table 79: Latvian General Insurance-Assets and Investments, 2013-2017

Table 80: Latvian General Insurance-Assets and Investments, 2017-2022

Table 81: Latvian General Insurance-Property Insurance, 2013-2017

Table 82: Latvian General Insurance-Property Insurance, 2017-2022

Table 83: Latvian General Insurance-Property Insurance by Category, 2013-2017

Table 84: Latvian General Insurance-Property Insurance by Category, 2017-2022

Table 85: Latvian General Insurance-Motor Insurance, 2013-2017

Table 86: Latvian General Insurance-Motor Insurance, 2017-2022

Table 87: Latvian General Insurance-Motor Insurance by Category, 2013-2017

Table 88: Latvian General Insurance-Motor Insurance by Category, 2017-2022

Table 89: Latvian General Insurance-Liability Insurance, 2013-2017

Table 90: Latvian General Insurance-Liability Insurance, 2017-2022

Table 91: Latvian General Insurance-Financial Lines Insurance, 2013-2017

Table 92: Latvian General Insurance-Financial Lines Insurance, 2017-2022

Table 93: Latvian General Insurance-Marine, Aviation and Transit Insurance, 2013-2017

Table 94: Latvian General Insurance-Marine, Aviation and Transit Insurance, 2017-2022

Table 95: Latvian General Insurance-Marine Aviation and Transit Insurance by Category, 2013-2017

Table 96: Latvian General Insurance-Marine Aviation and Transit Insurance by Category, 2017-2022

Table 97: Latvian General Insurance-Personal Accident and Health Insurance, 2013-2017

Table 98: Latvian General Insurance-Personal Accident and Health Insurance, 2017-2022

Table 99: Latvian General Insurance-Personal Accident and Health Insurance by Category, 2013-2017

Table 100: Latvian General Insurance-Personal Accident and Health Insurance by Category, 2017-2022

Table 101: Latvian General Insurance-Miscellaneous, 2013-2017

Table 102: Latvian General Insurance-Miscellaneous, 2017-2022

Table 103: Insurance Industry Definitions

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Products and Companies

Products

Latvian insurance industry, Life insurance, General insurance, Property insurance, Motor insurance, Liability insurance, Marine insurance, Personal accident and health insurance, Travel insurance, Health insurance, Reinsurance


Companies

AAS BTA Baltic Insurance Company

Balcia Insurance SE

Insurance Joint Stock Company BALTA

Baltijas Apdrosin?sanas Nams Insurance Joint Stock Company

CBL Life Insurance Joint Stock Company

Insurance Joint Stock Company SEB Dz?v?bas Apdrosin?sana

The Insurance Industry in Latvia, Key Trends and Opportunities to 2022

 

Summary

 

GlobalData's "The Insurance Industry in Latvia, Key Trends and Opportunities to 2022" report provides detailed analysis of the market trends, drivers and challenges in the Latvian insurance industry.

 

It provides key performance indicators such as written premium and claims during the review period (2013-2017) and forecast period (2017-2022).

 

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Latvian economy and demographics, and provides detailed information on the competitive landscape in the country.

 

The report brings together GlobalData's research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

 

Inside this report, we look at the top themes, its predictions and identify winners and losers.

 

The report provides in-depth market analysis, information and insights into the Latvian insurance industry, including-

- The Latvian insurance industry's growth prospects by segment and category

- A comprehensive overview of the Latvian economy and demographics

- Details of the competitive landscape in the Latvian insurance industry

- The various distribution channels in the Latvian insurance industry

- Details of regulatory policy applicable to the Latvian insurance industry

- Analysis of natural hazards in the Latvian insurance industry.

 

Scope

 

- This report provides a comprehensive analysis of the insurance industry in Latvia

- It provides historical values for the Latvian insurance industry for the report's 2013-2017 review period, and projected figures for the 2017-2022 forecast period.

- It offers a detailed analysis of the key segments in the Latvian insurance industry, with market forecasts to 2022.

- It covers an exhaustive list of parameters, including written premium and claims.

- It analyzes the various distribution channels in Latvia.

- It profiles the top insurance companies in Latvia, and outlines the key regulations affecting them.

 

Reasons to buy

 

- Make strategic business decisions using in-depth historic and forecast market data related to the Latvian insurance industry and each segment and category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Latvian insurance industry.

- Assess the competitive dynamics in the Latvian insurance industry.

- Identify the growth opportunities and market dynamics in key segments.

- Gain insights into key regulations governing the Latvian insurance industry and their impact on companies and the industry's future.

READ MORE

Scope

Table of Contents

1 Key Facts and Highlights

2 Executive Summary

3 Economy and Demographics

4 Industry Outlook

4.1 Industry Indicators

4.1.1 Gross written premium

4.1.2 Direct written premium

4.1.3 Insurance density

4.1.4 Paid claims

5 Life Insurance Outlook

5.1 Segment Indicators

5.1.1 Gross written premium

5.1.2 Direct written premium

5.1.3 Paid claims

5.1.4 Penetration

5.1.5 Assets and investments

5.2 Individual Life Insurance

5.2.1 Gross written premium

5.2.2 Penetration

5.3 Group Life Insurance

5.3.1 Gross written premium

5.3.2 Penetration

6 General Insurance Outlook

6.1 Segment Indicators

6.1.1 Gross written premium

6.1.2 Direct written premium

6.1.3 Paid claims

6.1.4 Penetration

6.1.5 Loss ratio

6.1.6 Assets and investments

6.2 Property Insurance

6.2.1 Direct written premium

6.2.2 Penetration

6.3 Motor Insurance

6.3.1 Direct written premium

6.3.2 Penetration

6.4 Liability Insurance

6.4.1 Direct written premium

6.4.2 Penetration

6.5 Financial Lines Insurance

6.5.1 Direct written premium

6.5.2 Penetration

6.6 Marine, Aviation and Transit Insurance

6.6.1 Direct written premium

6.6.2 Penetration

6.7 Personal Accident and Health Insurance

6.7.1 Direct written premium

6.7.2 Penetration

6.8 Miscellaneous

6.8.1 Direct written premium

6.8.2 Penetration

7 Reinsurance Outlook

7.1 Premium Ceded

8 Distribution Channel Outlook

9 Natural and Man-Made Hazards

9.1 Storms

9.2 Coastal erosion and flooding

9.3 Wildfires

9.4 Exposure

10 Competitive Landscape

10.1 Company Profiles

10.1.1 AAS BTA Baltic Insurance Company- Company Overview

10.1.2 Balcia Insurance SE Overview-company overview

10.1.3 Insurance Joint Stock Company BALTA- Company Overview

10.1.4 Baltijas Apdrosin?sanas Nams Insurance Joint Stock-company overview

10.1.5 CBL Life Insurance Joint Stock Company-company overview

10.1.6 Insurance Joint Stock Company SEB Dz?v?bas Apdrosin?sana-company overview

11 Governance, Risk and Compliance

11.1 Legislation Overview and Historical Evolution

11.2 Latest Changes in Regulation

11.3 Legislation and Market Practice by Type of Insurance

11.3.1 Life insurance

11.3.2 Property insurance

11.3.3 Motor insurance

11.3.4 Liability insurance

11.3.5 Marine, aviation and transit insurance

11.3.6 Personal accident and health insurance

11.4 Compulsory Insurance

11.4.1 Motor third-party liability insurance

11.4.2 Air carriers and aircraft operators insurance

11.4.3 Professional indemnity insurance for alternative investment fund managers

11.4.4 Liability for ships with respect to oil pollution

11.4.5 Third party liability insurance for bailiffs

11.4.6 Clinical trial liability

11.4.7 Professional liability insurance for insurance intermediaries

11.4.8 Health insurance

11.5 Supervision and Control

11.5.1 International Association of Insurance Supervisors

11.5.2 European Insurance and Occupational Pensions Authority

11.5.3 Federation of European Risk Management Associations

11.5.4 Federation of European Risk Management Associations

11.6 Non-Admitted Insurance Regulations

11.6.1 Overview

11.6.2 Intermediaries

11.6.3 Market practices

11.6.4 Fines and Penalties

11.7 Company Registration and Operations

11.7.1 Type of insurance organization

11.7.2 Establishing a local company

11.7.3 Foreign ownership

11.7.4 Types of license

11.7.5 Capital requirements

11.7.6 Solvency margin

11.7.7 Reserve requirements

11.7.8 Investment regulations

11.7.9 Statutory return requirements

11.7.10 Fee structure

11.8 Taxation

11.8.1 Insurance premium or policy taxation

11.8.2 Withholding taxes on premium paid overseas

11.8.3 Corporate tax

11.8.4 VAT

11.8.5 Captives

11.9 Legal System

11.9.1 Introduction

11.9.2 Access to court

11.9.3 Alternative dispute resolution

12 Databook

12.1 Life Insurance

12.1.1 Policies and premium

12.1.2 Claims and expenses

12.1.3 Assets and investments

12.1.4 Individual life insurance

12.1.5 Group life insurance

12.1.6 Linked vs non-linked policies

12.2 General Insurance

12.2.1 Policies and premium

12.2.2 Claims and expenses

12.2.3 Assets and investments

12.2.4 Property insurance

12.2.5 Property insurance by category

12.2.6 Motor insurance

12.2.7 Motor insurance by category

12.2.8 Liability insurance

12.2.9 Financial lines insurance

12.2.10 Marine, aviation and transit insurance

12.2.11 Marine, aviation and transit insurance by category

12.2.12 Personal accident and health insurance

12.2.13 Personal accident and health insurance by category

12.2.14 Miscellaneous

13 Definitions and Methodology

13.1 Definitions

13.2 Methodology

14 About GlobalData

14.1 Contact GlobalData

14.2 About GlobalData

14.3 GlobalData's Services

14.4 Disclaimer


List Of Figure

List of Figures

Figure 1: Latvian Real GDP (EUR Billion), 2013-2022

Figure 2: Latvian Exchange Rate (EUR per USD ), 2013-2022

Figure 3: Latvian Consumer Price Inflation (%), 2013-2022

Figure 4: Latvian Current Account Balance as Percentage of GDP (%), 2013-2016

Figure 5: Latvian Unemployment Rate, 2013-2022

Figure 6: Latvian Population by Age Group, 1990-2025

Figure 7: Latvian Insurance Industry-Gross Written Premium (EUR Million), 2013-2022

Figure 8: Latvian Insurance Industry-Direct Written Premium (EUR Million), 2013-2022

Figure 9: Latvian Insurance Industry-Density (EUR), 2013-2022

Figure 10: Latvian Insurance Industry-Paid Claims (EUR Million), 2013-2022

Figure 11: Latvian Life Insurance-Gross Written Premium (EUR Million), 2013-2022

Figure 12: Latvian Life Insurance-Direct Written Premium (EUR Million), 2013-2022

Figure 13: Latvian Life Insurance-Paid Claims (EUR Million), 2013-2022

Figure 14: Latvian Life Insurance-Penetration (%), 2013-2017

Figure 15: Latvian Life Insurance-Penetration (%), 2017-2022

Figure 16: Latvian Life Insurance-Total Assets (EUR Million), 2013-2022

Figure 17: Latvian Individual Life Insurance-Gross Written Premium (EUR Million), 2013-2022

Figure 18: Latvian Individual Life Insurance-Penetration (%), 2013-2017

Figure 19: Latvian Individual Life Insurance-Penetration (%), 2017-2022

Figure 20: Latvian Group Life Insurance-Gross Written Premium (EUR Million), 2013-2022

Figure 21: Latvian Group Life Insurance-Penetration (%), 2013-2017

Figure 22: Latvian Group Life Insurance-Penetration (%), 2017-2022

Figure 23: Latvian General Insurance-Gross Written Premium (EUR Million), 2013-2022

Figure 24: Latvian General Insurance-Direct Written Premium (EUR Million), 2013-2022

Figure 25: Latvian General Insurance-Paid Claims (EUR Million), 2013-2022

Figure 26: Latvian General Insurance-Penetration (%), 2013-2017

Figure 27: Latvian General Insurance-Penetration (%), 2017-2022

Figure 28: Latvian General Insurance-Loss Ratio (%), 2013-2017

Figure 29: Latvian General Insurance-Loss Ratio (%), 2017-2022

Figure 30: Latvian General Insurance-Total Assets (EUR Million), 2013-2022

Figure 31: Latvian General Insurance-Total Investment Income (EUR Million), 2013-2022

Figure 32: Latvian Property Insurance-Direct Written Premium (EUR Billion), 2013-2022

Figure 33: Latvian Property Insurance-Penetration (%), 2013-2017

Figure 34: Latvian Property Insurance-Penetration (%), 2017-2022

Figure 35: Latvian Motor Insurance-Direct Written Premium (EUR Million), 2013-2022

Figure 36: Latvian Motor Insurance-Penetration (%), 2013-2017

Figure 37: Latvian Motor Insurance-Penetration (%), 2017-2022

Figure 38: Latvian Liability Insurance-Direct Written Premium (EUR Billion), 2013-2022

Figure 39: Latvian Liability Insurance-Penetration (%), 2013-2017

Figure 40: Latvian Liability Insurance-Penetration (%), 2017-2022

Figure 41: Latvian Financial Lines Insurance-Gross Written Premium (EUR Million), 2013-2022

Figure 42: Latvian Financial Lines Insurance-Penetration (%), 2013-2017

Figure 43: Latvian Financial Lines Insurance-Penetration (%), 2017-2022

Figure 44: Latvian Marine, Aviation and Transit Insurance-Direct Written Premium (EUR Million), 2013-2022

Figure 45: Latvian Marine, Aviation and Transit Insurance-Penetration (%), 2013-2017

Figure 46: Latvian Marine, Aviation and Transit Insurance-Penetration (%), 2017-2022

Figure 47: Latvian Personal Accident and Health Insurance-Direct Written Premium (EUR Million), 2013-2022

Figure 48: Latvian Personal Accident and Health Insurance-Penetration (%), 2013-2017

Figure 49: Latvian Personal Accident and Health Insurance-Penetration (%), 2017-2022

Figure 50: Latvian Miscellaneous-Direct Written Premium (EUR Thousand), 2013-2022

Figure 51: Latvian Miscellaneous-Penetration (%), 2013-2017

Figure 52: Latvian Miscellaneous-Penetration (%), 2017-2022

Figure 53: Latvian Reinsurance-Premium Ceded by Insurance Segment (EUR Million), 2013-2022

Figure 54: Latvian Life Insurance-Percentage of Reinsurance Ceded (%), 2013-2022

Figure 55: Latvian General Insurance-Percentage of Reinsurance Ceded (%), 2013-2022

Figure 56: Latvia-The Three Pillars of Solvency II

Figure 57: Latvia-Insurance Supervision and Control at Various Levels

Figure 58: Latvia-Insurance Regulatory Frameworks for Company Registration and Operation


List Of Table

List of Tables

Table 1: Latvian Insurance Industry-Key Facts, 2017

Table 2: Latvian Insurance Industry-Leading Insurers, 2017

Table 3: Latvian Government Credit Ratings

Table 4: Latvian Insurance Industry-Gross Written Premium (EUR Million and USD Million), 2013-2017

Table 5: Latvian Insurance Industry-Gross Written Premium (EUR Million and USD Million), 2017-2022

Table 6: Latvian Insurance Industry-Direct Written Premium (EUR Million and USD Million), 2013-2017

Table 7: Latvian Insurance Industry-Direct Written Premium (EUR Million and USD Million), 2017-2022

Table 8: Latvian Insurance Industry-Density (EUR), 2013-2017

Table 9: Latvian Insurance Industry-Density (EUR), 2017-2022

Table 10: Latvian Insurance Industry-Paid Claims (EUR Million and USD Million), 2013-2017

Table 11: Latvian Insurance Industry-Paid Claims (EUR Million and USD Million), 2017-2022

Table 12: Latvian Life Insurance-Gross Written Premium (EUR Million and USD Million), 2013-2017

Table 13: Latvian Life Insurance-Gross Written Premium (EUR Million and USD Million), 2017-2022

Table 14: Latvian Life Insurance-Direct Written Premium (EUR Million and USD Million), 2013-2017

Table 15: Latvian Life Insurance-Direct Written Premium (EUR Million and USD Million), 2017-2022

Table 16: Latvian Life Insurance-Paid Claims (EUR Million and USD Million), 2013-2017

Table 17: Latvian Life Insurance-Paid Claims (EUR Million and USD Million), 2017-2022

Table 18: Latvian Life Insurance-Total Assets (EUR Million and USD Million), 2013-2017

Table 19: Latvian Life Insurance-Total Assets (EUR Million and USD Million), 2017-2022

Table 20: Latvian Individual Life Insurance-Gross Written Premium (EUR Million and USD Million), 2013-2017

Table 21: Latvian Individual Life Insurance-Gross Written Premium (EUR Million and USD Million), 2017-2022

Table 22: Latvian Group Life Insurance-Gross Written Premium (EUR Million and USD Million), 2013-2017

Table 23: Latvian Group Life Insurance-Gross Written Premium (EUR Million and USD Million), 2017-2022

Table 24: Latvian General Insurance-Gross Written Premium (EUR Million and USD Million), 2013-2017

Table 25: Latvian General Insurance-Gross Written Premium (EUR Million and USD Million), 2017-2022

Table 26: Latvian General Insurance-Direct Written Premium (EUR Million and USD Million), 2013-2017

Table 27: Latvian General Insurance-Direct Written Premium (EUR Million and USD Million), 2017-2022

Table 28: Latvian General Insurance-Paid Claims (EUR Million and USD Million), 2013-2017

Table 29: Latvian General Insurance-Paid Claims (EUR Million and USD Million), 2017-2022

Table 30: Latvian General Insurance-Total Assets (EUR Million and USD Million), 2013-2017

Table 31: Latvian General Insurance-Total Assets (EUR Million and USD Million), 2017-2022

Table 32: Latvian General Insurance-Total Investment Income (EUR Million and USD Million), 2013-2017

Table 33: Latvian General Insurance-Total Investment Income (EUR Million and USD Million), 2017-2022

Table 34: Latvian Property Insurance-Direct Written Premium (EUR Million and USD Million), 2013-2017

Table 35: Latvian Property Insurance-Direct Written Premium (EUR Million and USD Million), 2017-2022

Table 36: Latvian Motor Insurance-Direct Written Premium (EUR Million and USD Million), 2013-2017

Table 37: Latvian Motor Insurance-Direct Written Premium (EUR Million and USD Million), 2017-2022

Table 38: Latvian Liability Insurance-Direct Written Premium (EUR Million and USD Million), 2013-2017

Table 39: Latvian Liability Insurance-Direct Written Premium (EUR Million and USD Million), 2017-2022

Table 40: Latvian Financial Lines Insurance-Direct Written Premium (EUR Million and USD Million), 2013-2017

Table 41: Latvian Financial Lines Insurance-Direct Written Premium (EUR Million and USD Million), 2017-2022

Table 42: Latvian Marine, Aviation and Transit Insurance-Direct Written Premium (EUR Million and USD Million), 2013-2017

Table 43: Latvian Marine, Aviation and Transit Insurance-Direct Written Premium (EUR Million and USD Million), 2017-2022

Table 44: Latvian Personal Accident and Health Insurance-Direct Written Premium (EUR Million and USD Million), 2013-2017

Table 45: Latvian Personal Accident and Health Insurance-Direct Written Premium (EUR Million and USD Million), 2017-2022

Table 46: Latvian Miscellaneous-Direct Written Premium (EUR Thousand and USD Thousand), 2013-2017

Table 47: Latvian Miscellaneous-Direct Written Premium (EUR Thousand and USD Thousand), 2017-2022

Table 48: Latvian Reinsurance-Premium Ceded by Insurance Segment (EUR Million), 2013-2017

Table 49: Latvian Reinsurance-Premium Ceded by Insurance Segment (EUR Million), 2017-2022

Table 50: AAS BTA Baltic Insurance Company-Key Facts

Table 51: Balcia Insurance SE-Key Facts

Table 52: Insurance Joint Stock Company BALTA-Key Facts

Table 53: Baltijas Apdrosin?sanas Nams Insurance Joint Stock-Key Facts

Table 54: CBL Life Insurance Joint Stock Company-Key Facts

Table 55: Insurance Joint Stock Company SEB Dz?v?bas Apdrosin?sana Key Facts

Table 56: Latvia-Insurance Regulatory Framework Key Features

Table 57: Latvia-Life Insurance Regulatory Framework

Table 58: Latvia-Property Insurance Regulatory Framework

Table 59: Latvia- Motor Insurance Regulatory Framework

Table 60: Latvia-Liability Insurance Regulatory Framework

Table 61: Latvia-Minimum Coverage for Aircraft Third-Party Liability Per Accident Per Aircraft

Table 62: Latvia-Corporate Tax Rates for the Financial Year 2017

Table 63: Latvian Life Insurance-Policies and Premium, 2013-2017

Table 64: Latvian Life Insurance-Policies and Premium, 2017-2022

Table 65: Latvian Life Insurance-Claims and Expenses, 2013-2017

Table 66: Latvian Life Insurance-Claims and Expenses, 2017-2022

Table 67: Latvian Life Insurance-Assets and Investments, 2013-2017

Table 68: Latvian Life Insurance-Assets and Investments, 2017-2022

Table 69: Latvian Life Insurance-Individual Life Insurance, 2013-2017

Table 70: Latvian Life Insurance-Individual Life Insurance, 2017-2022

Table 71: Latvian Life Insurance-Group Life Insurance, 2013-2017

Table 72: Latvian Life Insurance-Group Life Insurance, 2017-2022

Table 73: Latvian Life Insurance-Linked vs Non-Linked Policies, 2013-2017

Table 74: Latvian Life Insurance-Linked vs Non-Linked Policies, 2017-2022

Table 75: Latvian General Insurance-Policies and Premium, 2013-2017

Table 76: Latvian General Insurance-Policies and Premium, 2017-2022

Table 77: Latvian General Insurance-Claims and Expenses, 2013-2017

Table 78: Latvian General Insurance-Claims and Expenses, 2017-2022

Table 79: Latvian General Insurance-Assets and Investments, 2013-2017

Table 80: Latvian General Insurance-Assets and Investments, 2017-2022

Table 81: Latvian General Insurance-Property Insurance, 2013-2017

Table 82: Latvian General Insurance-Property Insurance, 2017-2022

Table 83: Latvian General Insurance-Property Insurance by Category, 2013-2017

Table 84: Latvian General Insurance-Property Insurance by Category, 2017-2022

Table 85: Latvian General Insurance-Motor Insurance, 2013-2017

Table 86: Latvian General Insurance-Motor Insurance, 2017-2022

Table 87: Latvian General Insurance-Motor Insurance by Category, 2013-2017

Table 88: Latvian General Insurance-Motor Insurance by Category, 2017-2022

Table 89: Latvian General Insurance-Liability Insurance, 2013-2017

Table 90: Latvian General Insurance-Liability Insurance, 2017-2022

Table 91: Latvian General Insurance-Financial Lines Insurance, 2013-2017

Table 92: Latvian General Insurance-Financial Lines Insurance, 2017-2022

Table 93: Latvian General Insurance-Marine, Aviation and Transit Insurance, 2013-2017

Table 94: Latvian General Insurance-Marine, Aviation and Transit Insurance, 2017-2022

Table 95: Latvian General Insurance-Marine Aviation and Transit Insurance by Category, 2013-2017

Table 96: Latvian General Insurance-Marine Aviation and Transit Insurance by Category, 2017-2022

Table 97: Latvian General Insurance-Personal Accident and Health Insurance, 2013-2017

Table 98: Latvian General Insurance-Personal Accident and Health Insurance, 2017-2022

Table 99: Latvian General Insurance-Personal Accident and Health Insurance by Category, 2013-2017

Table 100: Latvian General Insurance-Personal Accident and Health Insurance by Category, 2017-2022

Table 101: Latvian General Insurance-Miscellaneous, 2013-2017

Table 102: Latvian General Insurance-Miscellaneous, 2017-2022

Table 103: Insurance Industry Definitions

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Products

Latvian insurance industry, Life insurance, General insurance, Property insurance, Motor insurance, Liability insurance, Marine insurance, Personal accident and health insurance, Travel insurance, Health insurance, Reinsurance


Companies

AAS BTA Baltic Insurance Company

Balcia Insurance SE

Insurance Joint Stock Company BALTA

Baltijas Apdrosin?sanas Nams Insurance Joint Stock Company

CBL Life Insurance Joint Stock Company

Insurance Joint Stock Company SEB Dz?v?bas Apdrosin?sana