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Latvia Insurance Report Q4 2015

Latvia Insurance Report Q4 2015

BMI View: Latvia is one of the smaller insurance markets in the eurozone with a small population and lowincome levels a limiting factor in total underwriting activity. However, there is potential for growth in thelife and non-life segments as the government and firms are trying to increase awareness of insurance andother financial products and improve distribution channels. As such, we are optimistic premiums will growat a steady rate in future.

With a population of just 2mn and lower income levels than most other eurozone members, Latvia is farfrom being considered a major market for European insurers. Insurance penetration and density are bothlow, especially in the life insurance segment which accounted for about 12% of written premiums in 2014.

The underdevelopment of the industry is further evident in the fact that motor vehicle and property coversaccount for about 80% of all non-life underwriting at present. Due to its small stature, in many cases theLatvian market is considered by the multinational insurance groups operating in the market to be part of a'Baltic' portfolio, which also includes assets in neighbouring Lithuania and Estonia. It is no coincidencesome of the most important insurers in Latvia hail from the Nordic countries who enjoy close geographicaland cultural ties with the Baltic region.


BMI Industry View
SWOT
Political
Economic
Operational Risk
Industry Forecast
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: Life Expectancy by Gender (Latvia 2012-2019)
Table: Demographic Breakdown (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 2007-2014)
Table: Non-Life Insurance Claims by Line (Latvia 2007-2014)
Non-Life Insurers' Assets
Table: Assets (Latvia 2007-2014)
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)
Table: Insurance Key Drivers, Freight Tonnage (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: Insurance Key Drivers, Private Health Expenditure (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
Emerging Europe Risk/Reward Index
Table: Emerging Europe Insurance Risk/Reward Index
Market Overview
Non-Life Market Overview
The Product Offering
The Competitive Landscape
Table: Company Performance: Non-Life Insurance Market (USDmn) 2007-2013
Life Market Overview
Product Offering
The Competitive Landscape
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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