Personal Accident and Health Insurance in Latvia, Key Trends and Opportunities to 2020

Published: Sep, 2017 | Pages: 108 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)


Synopsis
Timetric's 'Personal Accident and Health Insurance in Latvia, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Latvian personal accident and health insurance segment, and a comparison of the Latvian insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2011-2015) and forecast period (2015-2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Latvian economy and demographics, and provides detailed information on the competitive landscape in the country. 

The report brings together Timetric's research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric's 'Personal Accident and Health Insurance in Latvia, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Latvian personal accident and health insurance segment, including:

• An overview of the Latvian personal accident and health insurance segment

• The Latvian personal accident and health insurance segment's growth prospects by category

• A comprehensive overview of the Latvian economy and demographics

• A comparison of the Latvian personal accident and health insurance segment with its regional counterparts

• The various distribution channels in the Latvian personal accident and health insurance segment

• Details of the competitive landscape in the personal accident and health insurance segment in Latvia

• Details of regulatory policy applicable to the Latvian insurance industry

Scope
This report provides a comprehensive analysis of the personal accident and health insurance segment in Latvia:

• It provides historical values for the Latvian personal accident and health insurance segment for the report's 2011-2015 review period, and projected figures for the 2015-2020 forecast period.

• It offers a detailed analysis of the key categories in the Latvian personal accident and health insurance segment, and market forecasts to 2020.

• It provides a comparison of the Latvian personal accident and health insurance segment with its regional counterparts

• It provides an overview of the various distribution channels for personal accident and health insurance products in Latvia.

• It profiles the top personal accident and health insurance companies in Latvia, and outlines the key regulations affecting them.

Reasons To Buy

• Make strategic business decisions using in-depth historic and forecast market data related to the Latvian personal accident and health insurance segment, and each category within it.

• Understand the demand-side dynamics, key market trends and growth opportunities in the Latvian personal accident and health insurance segment.

• Assess the competitive dynamics in the personal accident and health insurance segment.

• Identify growth opportunities and market dynamics in key product categories.

• Gain insights into key regulations governing the Latvian insurance industry, and their impact on companies and the industry's future.

Key Highlights

• The personal accident and health segment accounted for 14.4% of the Latvian insurance industry's gross written premium in 2015.

• In 2016, 16 companies - both domestic and foreign branches - were members of the Latvian Insurance Association (LIA). All companies provided accident insurance, and 12 provided health cover.

• On August 1, 2017, VIG announced the merger of its Latvian subsidiaries, InterRisk and BTA Baltic, with BTA Baltic being the merged entity. The merger is pending regulatory approval.

 Table of Contents

1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Profitability
4.2.3 Assets and investments
5 Outlook by Category
5.1 Personal Accident Insurance
5.1.1 Premium
5.1.2 Policies
5.2 Health Insurance
5.2.1 Premium
5.2.2 Policies
5.3 Travel Insurance
5.3.1 Premium
6 Distribution Channel Outlook
7 Competitive Landscape
7.1 Company Profiles
7.1.1 BTA Insurance Company SE - company overview
7.1.2 AAS Balta - company overview
7.1.3 AAS Gjensidige Baltic - company overview
7.1.4 BTA Baltic Insurance Company AAS - company overview
7.1.5 Baltikums Vienna Insurance Group - company overview
7.1.6 Baltijas Apdrošin?šanas Nams - company overview
8 Governance, Risk and Compliance
8.1 Legislation Overview and Historical Evolution
8.2 Latest Changes in Regulation
8.3 Legislation and Market Practice by Type of Insurance
8.3.1 Life insurance
8.3.2 Property insurance
8.3.3 Motor insurance
8.3.4 Liability insurance
8.3.5 Marine, aviation and transit insurance
8.3.6 Personal accident and health insurance
8.4 Compulsory Insurance
8.4.1 Motor third-party liability insurance
8.4.2 Air carriers and aircraft operators insurance
8.4.3 Professional indemnity insurance for alternative investment fund managers
8.4.4 Liability for ships with respect to oil pollution
8.4.5 Third party liability insurance for bailiffs
8.4.6 Clinical trial liability
8.4.7 Professional liability insurance for insurance intermediaries
8.5 Supervision and Control
8.5.1 International Association of Insurance Supervisors
8.5.2 European Insurance and Occupational Pensions Authority
8.5.3 Federation of European Risk Management Associations
8.5.4 Federation of European Risk Management Associations
8.6 Non-Admitted Insurance Regulations
8.6.1 Overview
8.6.2 Intermediaries
8.6.3 Market practices
8.6.4 Fines and Penalties
8.7 Company Registration and Operations
8.7.1 Type of insurance organization
8.7.2 Establishing a local company
8.7.3 Foreign ownership
8.7.4 Types of license
8.7.5 Capital requirements
8.7.6 Solvency margin
8.7.7 Reserve requirements
8.7.8 Investment regulations
8.7.9 Statutory return requirements
8.7.10 Fee structure
8.8 Taxation
8.8.1 Insurance premium or policy taxation
8.8.2 Withholding taxes on premium paid overseas
8.8.3 Corporate tax
8.8.4 VAT
8.8.5 Captives
8.9 Legal System
8.9.1 Introduction
8.9.2 Access to court
8.9.3 Alternative dispute resolution
9 Databook
9.1 Policies and Premium
9.2 Claims and Expenses
9.3 Assets and Investments
9.4 Personal Accident Insurance
9.5 Health Insurance
9.6 Travel Insurance
10 Definitions and Methodology
10.1 Definitions
10.2 Methodology
11 About Timetric
11.1 Contact Timetric
11.2 About Timetric
11.3 Timetric's Services
11.4 Disclaimer

List of Tables

Table 1: Latvian Personal Accident and Health Insurance - Key Facts, 2015
Table 2: Latvian Personal Accident and Health Insurance - Top Insurers, 2015
Table 3: Latvian Government Credit Ratings
Table 4: Latvian Marine, Aviation and Transit Insurance - Passenger Traffic (Million), 2012-2016
Table 5: Latvian Personal Accident and Health Insurance - Gross Written Premium (EUR Million and US$ Million), 2011-2015
Table 6: Latvian Personal Accident and Health Insurance - Penetration (%), 2011-2015
Table 7: Latvian Personal Accident and Health Insurance - Gross Written Premium (EUR Million and US$ Million), 2015-2020
Table 8: Latvian Personal Accident and Health Insurance - Penetration (%), 2015-2020
Table 9: Latvian Personal Accident and Health Insurance - Premium per Capita (EUR and US$), 2011-2015
Table 10: Latvian Personal Accident and Health Insurance - Premium per Capita (EUR and US$), 2015-2020
Table 11: Latvian Personal Accident and Health Insurance - Profitability Ratio (%), 2011-2015
Table 12: Latvian Personal Accident and Health Insurance - Profitability Ratio (%), 2015-2020
Table 13: Latvian Personal Accident and Health Insurance - Total Assets (EUR Million and US$ Million), 2011-2015
Table 14: Latvian Personal Accident and Health Insurance - Total Assets (EUR Million and US$ Million), 2015-2020
Table 15: Latvian Personal Accident and Health Insurance - Total Investment Income (EUR Thousand and US$ Thousand), 2011-2015
Table 16: Latvian Personal Accident and Health Insurance - Total Investment Income (EUR Thousand and US$ Thousand), 2015-2020
Table 17: Latvian Personal Accident and Health Insurance - Direct Written Premium by Category (EUR Million), 2011-2015
Table 18: Latvian Personal Accident and Health Insurance - Direct Written Premium by Category (EUR Million), 2015-2020
Table 19: Latvian Personal Accident Insurance - Direct Written Premium (EUR Million and US$ Million), 2011-2015
Table 20: Latvian Personal Accident Insurance - Direct Written Premium (EUR Million and US$ Million), 2015-2020
Table 21: Latvian Personal Accident Insurance - Number of Policies Sold (Thousand), 2011-2015
Table 22: Latvian Personal Accident Insurance - Number of Policies Sold (Thousand), 2015-2020
Table 23: Latvian Health Insurance - Direct Written Premium by Sub-Category (EUR Million), 2011-2015
Table 24: Latvian Health Insurance - Direct Written Premium by Sub-Category (EUR Million), 2015-2020
Table 25: Latvian Health Insurance - Number of Policies Sold by Sub-Category (Thousand), 2011-2015
Table 26: Latvian Health Insurance - Number of Policies Sold by Sub-Category (Thousand), 2015-2020
Table 27: Latvian Travel Insurance - Direct Written Premium (EUR Million), 2011-2015
Table 28: Latvian Travel Insurance - Direct Written Premium (EUR Million), 2015-2020
Table 29: Latvian Personal Accident and Health Insurance - Top Insurers, 2015
Table 30: BTA Insurance Company SE - Key Facts
Table 31: AAS Balta - Key Facts
Table 32: AAS Gjensidige Baltic - Key Facts
Table 33: BTA Baltic Insurance Company AAS - Key Facts
Table 34: Baltikums Vienna Insurance Group - Key Facts
Table 35: Baltijas Apdrošin?šanas Nams - Key Facts
Table 36: Latvia - Insurance Regulatory Framework Key Features
Table 37: Latvia - Life Insurance Regulatory Framework
Table 38: Latvia - Property Insurance Regulatory Framework
Table 39: Latvia- Motor Insurance Regulatory Framework
Table 40: Latvia - Liability Insurance Regulatory Framework
Table 41: Latvia - Minimum Coverage for Aircraft Third-Party Liability Per Accident Per Aircraft
Table 42: Latvia - Corporate Tax Rates for the Financial Year 2017
Table 43: Latvian Personal Accident and Health Insurance Industry - Policies and Premium, 2011-2015
Table 44: Latvian Personal Accident and Health Insurance Industry - Policies and Premium, 2015-2020
Table 45: Latvian Personal Accident and Health Insurance - Claims and Expenses, 2011-2015
Table 46: Latvian Personal Accident and Health Insurance - Claims and Expenses, 2015-2020
Table 47: Latvian Personal Accident and Health Insurance - Assets and Investments, 2011-2015
Table 48: Latvian Personal Accident and Health Insurance - Assets and Investments, 2015-2020
Table 49: Latvian Personal Accident and Health Insurance - Personal Accident Insurance, 2011-2015
Table 50: Latvian Personal Accident and Health Insurance - Personal Accident Insurance, 2015-2020
Table 51: Latvian Personal Accident and Health Insurance - Health Insurance, 2011-2015
Table 52: Latvian Personal Accident and Health Insurance - Health Insurance, 2015-2020
Table 53: Latvian Personal Accident and Health Insurance - Travel Insurance, 2011-2015
Table 54: Latvian Personal Accident and Health Insurance - Travel Insurance, 2015-2020
Table 55: Insurance Industry Definitions