New Market Report Now Available: Non-Life Insurance in Latvia, Key Trends and Opportunities to 2017
The Latvian non-life insurance segment declined during the review period (2008-2012) at a compound annual growth rate (CAGR) of 3.8%. This was primarily due to the contraction in the economy as a result of the global financial crisis. The crisis significantly affected the segment's largest category, motor insurance, as demand for automobiles fell, although the category's decline was largely offset by robust growth in the marine, aviation and transit insurance category.
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