Insurers' premiums increase 15.4% in Q1

• Published date: 11 May 2022

RIGA, May 11 (LETA) - In the first quarter of 2022, Latvian insurers and the Latvian branches of foreign insurance companies raised gross premiums by 15.4 percent against the first quarter of 2021 to EUR 170.773 million, while gross insurance claims grew 40 percent year-on-year to EUR 121.607 million, according to according to Latvian Insurers Association.

In the first quarter, insurers in Latvia grossed EUR 48.172 million in life insurance, which is an increase of 13.3 percent against the first quarter of 2021 and made up 28.2 percent of the insurance market.

ross health insurance premiums grew 20.8 percent year-on-year to EUR 36.612 million (21.4 percent of the market), followed by motor own damage insurance (MOD) with 25.748 million (15.1 percent), up 15.5 percent, mandatory motor third party liability (MTPL) insurance with EUR 21.745 million (12.7 percent), up 13.3 percent, and property insurance with EUR 20.884 million (12.2 percent), down 12.3 percent,

ross...