Latvia Insurance Report Q4 2015 - New Market Study Published

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

With a population of just 2mn and lower income levels than most other eurozone members, Latvia is far from being considered a major market for European insurers. Insurance penetration and density are both low, 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 covers account for about 80% of all non-life underwriting at present. Due to its small stature, in many cases the Latvian 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 coincidence some of the most important insurers in Latvia hail from the Nordic countries who enjoy close geographical and cultural ties with the Baltic region.

Full Report Details at
- http://www.fastmr.com/prod/1044812_latvia_insurance_report_q4.aspx?afid=301

The Latvia Insurance Report has been researched at source and features BMI Research's independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's Latvia Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Latvian insurance industry.

Key Benefits

* Benchmark BMI's independent insurance industry forecasts for Latvia to test other views - a key input for successful budgeting and strategic business planning in Latvia's insurance market.
* Target business opportunities and risks in Latvia through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.
* Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).

Coverage

BMI Industry View

Summary of BMI’s key industry forecasts and views, covering the Life and Non-Life segments, the evolving competitive landscape and business operational risks.

Industry SWOT Analysis

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