Reinsurance in Latvia, Key Trends and Opportunities to 2017

Date: 2015-09

“Reinsurance in Latvia and the Baltic region is highly underdeveloped, primarily due to the small size of the region’s insurance industry. The segment grew at a steady review-period (2008–2012) compound annual growth rate (CAGR) of 10.6%. Uncertain economic conditions and reforms in the Latvian economy, led by the International Monetary Fund (IMF), European Union (EU), and European Central Bank (ECB), are expected to result in volatility in premium generation over the forecast period (2012–2017).

In contrast, the implementation of Solvency II directives is expected to improve competition among insurers, directly impacting the demand for reinsurance over the forecast period. The segment’s written premium is anticipated to rise at a forecast-period CAGR of 18.5%.”

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