Insurance company Balta posts EUR 9.3 million in profit in 2021

• Published date: 25 May 2022
• Publication title: LETA

RIGA, May 25 (LETA) - Risk insurance company Balta, part of PZU Group, posted EUR 9.3 million in profit last year, which is 39.2 percent less than in 2020, Balta representatives informed LETA.

The amount of gross premiums increased 8.2 percent last year, amounting to a record EUR 116.047 million, while insurance claims amounted to EUR 64.083 million, an increase of 10.5 percent on 2020.

The number of the company's customers increased by 9 percent in 2021.

Balta CEO Iain Kennedy said that Balta continued to improve its insurance products and customer service last year. Travel, liability, property and health insurance products registered the fastest growth in 2021.

Kennedy explains that the increase in the...