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Latvia Insurance Report Q2 2015

Latvia Insurance Report Q2 2015

BMI View: The stability accruing from the October 2014 elections is beneficial to the wider insurancesector and encouraging the acquisition of insurance policies in both the life and non life subsectors. Whilewe do expect that motor insurance premium growth will decline, this will be mitigated by the uptick inresidential construction and the concomitant rise in demand for property insurance. We therefore expect tosee total premiums dropping in 2015 by 8.4% as the downwards trend seen in 2014 intensifiesIn line with our expectations, Prime Minister Laimdota Straujuma's coalition won a majority of the vote inthe October 2014 parliamentary election. The governing coalition has remained intact, with Straujumamaintaining her leadership position while the Union of the Greens and National Alliance both increasedtheir share of the vote. The stability accruing from this development is beneficial to the wider insurancesector and encouraging the acquisition of insurance policies in both the life and non life subsectors. Whilewe do expect that motor insurance premium growth will decline, this will be mitigated by the uptick inresidential construction and the concomitant rise in demand for property insurance. The sector most at risk,in our view, over 2015 is the transport insurance segment which could suffer from the potential slowdownin trade should tensions between Russia and the West intensify. Moreover, as Latvia's economy is so closelylinked with that of Russia, and Russia is such a key trade partner, should regional tensions worsen, a severeeconomic slowdown would have negative implications across all segments of the insurance sector. Wetherefore expect to see total premiums dropping in 2015 by 8.4% as the downwards trend seen in 2014intensifies. This will leave total insurance premiums generated over the coming year at around USD400mn.


BMI Industry View
SWOT
Political
Economic
Industry Forecast
Total Premiums Forecast
Total Premiums
Table: Total Gross Premiums Written (Latvia 2012-2019)
Table: Total Net Premiums Written (Latvia 2012-2019)
Total Claims
Table: Total Insurance Claims (Latvia 2007-2013)
Insurers' Assets
Table: Total Insurance Assets (Latvia 2007-2013)
Life Premiums Forecast
Life Premiums
Table: Gross Life Premiums Written (Latvia 2012-2019)
Table: Net Life Premiums Written (Latvia 2012-2019)
Life Claims
Table: Life Insurance Claims (Latvia 2007-2014)
Life Insurers' Assets
Table: Assets (Latvia 2007-2014)
Life Insurance Drivers
Table: Insurance Key Drivers, Disease Adjusted Life Years (Latvia 2012-2019)
Table: Insurance Key Drivers, Private Health Expenditure (Latvia 2012-2019)
Non-Life Premiums Forecast
Non-Life Premiums
Table: Gross Non-Life Premiums Written (Latvia 2012-2019)
Table: Net Non-Life Premiums Written (Latvia 2012-2019)
Non-Life Claims
Table: Non-Life Insurance Claims (Latvia 2007-2013)
Table: Non-Life Insurance Claims by Line (Latvia 2007-2013)
Non-Life Insurers' Assets
Table: Assets (Latvia 2007-2013)
Non-Life Sub-Sector Forecast
Table: Non-Life % Breakdown (Latvia 2012-2019)
Motor and Transport Insurance
Table: Motor Vehicle Insurance (Latvia 2012-2019)
Table: Insurance Key Drivers, Autos (Latvia 2012-2019)
Table: Transport Insurance (Latvia 2012-2019)
Table: Insurance Key Drivers, Freight Tonnage (Latvia 2012-2019)
Property Insurance
Table: Property Insurance (Latvia 2012-2019)
Health and Personal Accident Insurance
Table: Health Insurance (Latvia 2012-2019)
Table: Personal Accident Insurance (Latvia 2012-2019)
General Liability and Credit/Financial Insurance
Table: General Liability Insurance (Latvia 2012-2019)
Table: Credit/Financial Guarantee Insurance (Latvia 2012-2019)
Industry Risk Reward Ratings
Central and Eastern European Risk/Reward Index - Q2 2015
Table: Central And Eastern Europe Risk/Reward Index - Q2 2015
Market Overview
Life Market Overview
Non-Life Market Overview
Table: Premiums of Selected Non Life Insurers, USDmn
Company Profile
Gjensidige Baltic
AAS Balta
If P&C
Baltikums
Swedbank
Demographic Forecast
Table: Population Headline Indicators (Latvia 1990-2025)
Table: Key Population Ratios (Latvia 1990-2025)
Table: Urban/Rural Population & Life Expectancy (Latvia 1990-2025)
Table: Population By Age Group (Latvia 1990-2025)
Table: Population By Age Group % (Latvia 1990-2025)
Methodology
Industry Forecast Methodology
Risk/Reward Index Methodology
Table: Indicators
Table: Weighting of Indicators

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