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BTA becomes the most valuable insurer in Latvia – nearly 100 million euro

30.10.2018

BTA has been recognized as one of the Latvian most valuable companies. Compared to the 88th place in the list of Latvian TOP101 most valuable companies in 2017, BTA this year has made a great leap, ranking 46th, becoming the most valuable insurance industry representative in Latvia. The list of Latvian TOP101 companies, published by the newspaper Latvijas Avīze, consists of Latvian most valuable companies, the total worth of which in 2017 reached 17.7 billion euros and has grown by 0.9% during the year. For the period of last five years, a considerable increase in the total worth of private capital companies has been observed in the Latvian TOP101, which has grown by approximately 6.5% for the year.

BTA company worth has increased by 80% since 2017, reaching 96.8 million euros in 2018. And, the total turnover of BTA has reached 289 million euros. The volume of gross insurance premiums written by BTA in Latvia has reached nearly 60 million euros in the first 9 months of this year, compared to 41 million euros a year ago. It was the results achieved in the Latvian market, which boosted the figures on the pan-Baltic market, where overall volume of gross written insurance premiums reached 156 million euros.

 

“I am proud for the results achieved by our company and happy to emphasize the rapid improvement of our positions in the Latvian insurance market. The volume of written insurance premiums, compared to 2017, has nearly doubled. The volume of insurance premiums written by BTA in the Baltic States in the first 9 months of this year has increased by 30.8%, and the amount of paid in insurance indemnities reaches 89 million euros. I can surely assert that BTA at the moment is the leading insurance company in Latvia. We keep changing along with the pace of time and keep moving to the common set goal – to become the best in the insurance field. The changes accomplished by now, which include acquisition of InterRisk at the end of 2017, and the implemented BTA Privacy Policy along with the European Union General Data Protection Regulation taking effect at the end of May, required considerable effort and resources. We still maintain an increased focus on improving our customer service quality to provide the best service,” says BTA Management Board Member Wolfgang Stockmeyer.

 

 

About BTA

BTA Baltic Insurance Company is one of the leading insurance companies in the Baltics, offering the broadest range of non-life insurance services in Latvia, Lithuania and Estonia. BTA employs more than 1,000 employees in the Baltics. The largest shareholder of BTA is Vienna Insurance Group AG with 200 years of experience in the insurance industry. More than 50 companies in 25 countries constitute the group, which employs 25,000 employees. Vienna Insurance Group AG is a clear leader in its core markets in Europe maintaining high rating of financial stability – Standard & Poor’s A+ (stable outlook), with a listing on the Vienna and the Prague Stock Exchange.

 

Additional information:
Elīna Rasmane
Marketing and Public Relations Department Director
BTA Baltic Insurance Company AAS
e-mail: elina.rasmane@bta.lv