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Latvia Insurance Report 2014

  • ID: 2691059
  • November 2013
  • Region: Latvia
  • 87 pages
  • Business Monitor International
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FEATURED COMPANIES

  • Balta
  • Baltikums
  • BTA Insurance Company SE
  • Gjensidige Baltic
  • RSA Group
  • Sampo Group
  • MORE

BMI View: Latvia's insurance sector is strengthened by the presence of the subsidiaries of major life insurance companies. However, significant challenges to growth remain.

Like those of Lithuania and Estonia, Latvia's insurance sector is dominated by the local subsidiaries of multi-national giants. In the life segment, for instance, leading players include Swedbank Life, SEB Life &
Pensions and Sampo Group's Mandatum Life. In the non-life segment, RSA Group company Balta remains the largest company. This is positive, because it means that global best practice is brought to a small country which experienced a brutal recession and financial crisis. Best practice - across both segments
- in this context includes development of brands, innovation in product development and imaginative approaches to distribution. By seeing Latvia as one element of a larger Baltic (or European) business, the insurance companies who are active in the country have access to significant economies of scale.

Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Balta
  • Baltikums
  • BTA Insurance Company SE
  • Gjensidige Baltic
  • RSA Group
  • Sampo Group
  • MORE

BMI Industry View 7
Table: Total Premiums 2010-2017 7

SWOT 9

Insurance 9

Political 11

Economic 12

Business Environment 13

Industry Forecast 14

Life 14
Table: Life Premiums, 2010-2017 14

Non Life 16
Table: Non-Life Premiums, 2010-2017 16

Industry Risk Reward Ratings 18

Central and Eastern European Risk/Reward Ratings 18
Table: Europe Risk/Reward Ratings 18

Latvia Insurance Risk/Reward Ratings 20
Table: Latvia's Insurance Risk/Reward Ratings 20

Market Overview 22

Life 22

Non Life 23

Industry Trends And Developments 25

Latvia Life Growth Drivers & Risk Management Projections 25
Table: Insurance Key Drivers, Demographics 2010-2017 25

Latvia Non Life Growth Drivers & Risk Management Projections 26

Macroeconomic Forecast 26
Table: Latvia - Economic Activity 30

Political Outlook 30

Healthcare Sector 32

Healthcare Sector Funding 33

Healthcare Provision 34

Epidemiology 35
Table: Insurance Key Drivers, Disease Adjusted Life Years 2010-2017 37

Competitive Landscape 39

Central And Eastern Europe Competitive Landscape 40

Company Profile 44

Balta 44

Baltikums 46

Vienna Insurance Group (VIG) 48

Swedbank Life Insurance 52

Seesam 55

SEB Life & Pensions International 57

Sampo Group 59

RSA Group 62

Gjensidige Baltic 65

BTA Insurance Company SE 68

Powszechny Zaklad Ubezpieczen (PZU) 70

Regional Overview 74

Central & Eastern Europe - Life 74
Table: Central And Eastern European Life Premiums, 2010-2017 (US$mn) 74

Central & Eastern Europe - Non-Life 75
Table: Central And Eastern Europe - Non Life Premiums US$mn, 2010-2017 76

Demographic Forecast 78
Table: Latvia's Population By Age Group, 1990-2020 ('000) 79
Table: Latvia's Population By Age Group, 1990-2020 (% of total) 80
Table: Latvia's Key Population Ratios, 1990-2020 81
Table: Latvia's Rural And Urban Population, 1990-2020 81

Methodology 82

Industry Forecast Methodology 82

Risk/Reward Rating Methodology 85
Table: Insurance Risk/Reward Ratings Indicators 86
Table: Weighting Of Indicators 87

Note: Product cover images may vary from those shown
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Balta
Baltikums
Vienna Insurance Group (VIG)
Swedbank Life Insurance
Seesam
SEB Life & Pensions International
Sampo Group
RSA Group
Gjensidige Baltic
BTA Insurance Company SE
Powszechny Zaklad Ubezpieczen (PZU)

Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown

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  • Transatlantic Holdings, Inc.
  • Aon Plc.
  • Swiss Reinsurance Company Ltd.
  • Prudential Financial, Inc.
  • General Reinsurance Corporation
  • ING Group