Latvia's insurance market ended the period January-March 2013 with a 1% annual growth. The insurance companies underwrote LVL 65.4 million (EUR 93 million) worth of premiums. The market growth was fuelled by life insurance that rose by 16.3% to LVL 5.5 million of premiums. The non-life insurance sector decreased by 0.5% to LVL 59.9 million.

At the same time, the value of paid claims totaled LVL 39.3 million or EUR 60 million, of which 78% related to the non-life insurance segment and 22% to life insurance. It is important to mentionthat, on the life insurance segment, the value of indemnities exceeds by over 60% the value of gross written premiums.

Access www.xprimm.com and download the 1Q2013 Latvian insurance market statistics.

Market portfolio (in EUR and LVL):

• Gross written premiums
• Paid claims
• Growth rates