Fast Market Research

New Market Report Now Available: Non-Life Insurance in Latvia, Key Trends and Opportunities to 2017

Recently published research from Timetric, "Non-Life Insurance in Latvia, Key Trends and Opportunities to 2017", is now available at Fast Market Research

 
Repost This

Boston, MA -- (SBWIRE) -- 04/30/2014 -- 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.

The Latvian business environment is more favorable for foreign companies than in other Central and Eastern European countries. Latvia's membership of international organizations such as the World Trade Organization (WTO), NATO and the European Union (EU) also gives it a strong standing in global trade. Latvia's accession to the eurozone in January 2014 is expected to bring significant foreign participation in the country. As the business environment continues to grow, with developing regulatory frameworks under the governance of the European Central Bank (ECB), the overall Latvian insurance industry is expected to benefit. The non-life segment is expected to grow significantly at a forecast-period CAGR of 10.3%.

View Full Report Details and Table of Contents

Report Highlights

- The Latvian non-life segment declined during the review period at a CAGR of -3.8%.
- Motor insurance, the largest category in the segment, registered a significant decline during the review period.
- Rising motor vehicle thefts in Latvia and other Baltic countries and compulsory motor third-party liability insurance in the country, supported the growth of non-life insurance segment during the review period.
- Direct marketing was the leading distribution channel in the non-life segment.
- At the end of 2012, a total of nine domestic companies operated in the Latvian insurance industry, of which two were life insurers and the remaining seven were involved in non-life business.

Report Scope

This report provides a comprehensive analysis of the non-life insurance segment in Latvia:

- It provides historical values for Latvia's non-life insurance segment for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period.
- It offers a detailed analysis of the key categiories in Latvia's non-life insurance segment, along with market forecasts until 2017.
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
- It analyses the various distribution channels for non-life insurance products in Latvia.
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Latvia for the non-life insurance segment.
- It provides a detailed analysis of the reinsurance segment in Latvia and its growth prospects.

Companies Mentioned in this Report: BTA Insurance Company SE, If P&C Insurance AS Latvia, AAS Gjensidige Baltic, Seesam Insurance AS Latvia, AAS Balta, Ergo Insurance SE Latvian Branch, Baltikums, Swedbank P&C Insurance AS, Baltijas Apdrosin?sanas Nams

About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Insurance research reports at Fast Market Research

You may also be interested in these related reports:

- Life Insurance in Russia, Key Trends and Opportunities to 2017
- Life Insurance in Austria, Key Trends and Opportunities to 2017: The Austrian life segment's written premium fell from EUR7.4 billion in 2008 to EUR6.5 billion in 2012.
- Non-Life Insurance in Austria, Key Trends and Opportunities to 2017: The Austrian non-life segments written premium value grew from EUR6.5 billion in 2008 to EUR7.1 billion in 2012.
- Personal Accident and Health Insurance in Thailand, Key Trends and Opportunities to 2017
- Life Insurance in South Africa, Key Trends and Opportunities to 2017
- Life Insurance in China, Key Trends and Opportunities to 2017
- Life Insurance in India, Key Trends and Opportunities to 2017
- Non-Life Insurance in Canada, Key Trends and Opportunities to 2017
- Non-Life Insurance in China, Key Trends and Opportunities to 2017
- Non-Life Insurance in India, Key Trends and Opportunities to 2017