Table of Contents
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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