Life Insurance in Latvia, Key Trends and Opportunities to 2017

Date: 2015-09

During the review period (2008โ€“2012), Latviaโ€™s insurance industry was affected by the global financial crisis. The overall insurance industry in Latvia recorded a decline in written premium at a review-period compound annual growth rate (CAGR) of 3.1%. The life insurance segment registered a positive CAGR of 6.8% during the review period . This was due to growth in private consumption, investments and exports. Life insurance is expected to benefit from an increase in the Latvian populationโ€™s disposable income and growth in life expectancy over the forecast period. The growing economy is anticipated to have a positive impact on the segment by creating favorable economic conditions for growth. The Latvian life segment is expected to grow at a CAGR of 11.6% over the forecast period (2012โ€“2017).

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