Latvian insurers ended H1 2026 with gross written premiums (GWP) worth EUR 748.33 million, 10.17% up y-o-y. Life insurance accounted for almost 20% of this total, while motor insurance is the business segment with the largest participation to the market portfolio (27.44%). At the same time, the amount of claims paid increased even more rapidly – ​​by 17.6 %, reaching EUR 433 million.

The Motor Hull class provided for the largest contribution to the GWP growth in absolute terms, unlike the MTPL line which recorded a negative trend, with premiums decreasing by about 5.5% y-o-y. However, as far as paid claims are concerned, both lines recorded a similar trend: claims paid for Motor Hull contracts increased by 24.8%, while for the MTPL line they increased by 10.3%.

Property insurance premiums went up by 8.4%, to EUR 106.5 million, while claims expenses increased by 32%, to EUR 50.7 million. Most likely, the persistent snow cover and prolonged temperatures below zero degrees during the winter months is the main cause for the increasing amounts spent by insurers to cover insurance claims related to winter weather conditions and more intensive heating of homes increased last heating season. Data compiled by the Latvian Insurers Association (LAA) show that 8,745 insurance claims were registered last season, which is 24% more than the year before, when 7,040 cases were recorded. According to LAA, only about half of the inhabited homes in Latvia are insured. It is also worth noting that residents more often insure private houses, less often apartments, although the risks can often be even greater in apartments, because we cannot control the actions of our neighbors. 

In a regional comparison, LAA has emphasized that Latvians are spending annualy, for insurance, EUR 458 per capita, a smaller amount than Estonians (EUR 501) and Lithuanians (EUR 598).

Access xprimm.com database and download the Latvian insurance market statistics.