The Latvian insurance market is a small and relatively underdeveloped market by EUstandards, which is currently seen by foreign insurers as an attractive 'add-on' to their existing operationsacross the CEE region. We anticipate that the market, in overall terms, will remain underdevelopedthroughout our forecast period. This is evident in the life insurance in particular. Non-life insurance, on theother hand, is expected to grow rapidly and steadily, while reaping the benefits of Latvia's improving widereconomic condition.
Resilience of the insurance sector in the face of tough economic conditions.
Market is dominated by large multinationals.
Non-life insurance has developed beyond basic motor and property lines.
The regulatory environment has strengthened over recent years due to the influenceof foreign providers.
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