BTA Baltic Insurance Company AAS (hereinafter – BTA) develops itself and proves its prowess in various fields, therefore BTA was presented award in the nomination Investor of the Year 2022 at the Baltic Real Estate Forum BRELF Awards 2022.

The purpose of the BRELF Awards 2022 is to praise real estate projects, developers, investors and initiatives that have had the most valuable impact on the real estate market in Latvia over the past year. 

Proceeding with implementation of its investment strategy in the real estate field in the Baltics, BTA has concluded a significant investment deal with the construction company YIT on development of 5 rental apartment housing projects in the Baltic States. The total amount of investment of these projects is EUR 65 million and is historically the largest transaction of its kind in the real estate industry. The housing management services of the new rental apartment buildings and the investment management have been entrusted to an experienced partner – Lumi Capital, an Estonian real estate investment management company. As this is an important investment in the real estate segment, BTA contested the Investor of the Year nomination by vote of the citizens. 

"We are really happy and proud of the award we received, it is proof that we are heading the right way and are approved as investors on the Baltic insurance market. I will not deny, we really are proud to be the first to conclude an investment deal of this size in the Baltic States and to have done it in cooperation with stable, recognized and reliable partners – YIT and Lumi Capital," says Oskars Hartmanis, Deputy Chairman of BTA Management Board.



The construction in Lithuania is finished now, and apartments in the Lithuanian project are offered to tenants. The projects in Tallinn and Riga are under construction and are to be completed in the first half of 2023. 479 new and modern apartments will be offered on the rental apartment market. All projects will achieve a BREEAM certificate of the VERY GOOD grade, which will contribute to the availability of sustainable housing options to population, as well as increase the return on investment in such buildings by reducing their running costs. 

New rental housing for the new generation
The Baltic real estate market supply side still lacks quality rental apartments – an influencing factor that promotes the development of new, up-to-date housing that meets the current needs of population on a pan-Baltic level. 

Currently, the demand for modern apartments that are in line with modern standards in the centres of the Baltic capitals is high. The greatest interest comes from the younger generation residents, who will appreciate professionally managed housing with clear rental terms. What needs to be developed is housing, where all necessities are within reach – shops, entertainment and recreation places, well-developed infrastructure. The main task of developing new projects is to offer high-quality and energy-efficient rental apartments on the market.

The new generation of residents is also much more educated in matters of nature and sustainability. When choosing their next rental home, customers pay particular attention to the energy efficiency aspects of the building. Also, the priorities set by strategy of VIG and BTA are to promote lasting values and to promote the change of citizens' habits.

Digitalization – the new normal also in the rental market
BTA is a pioneer in the development of digitalization in insurance. The option to go to the insurer's website, make an insurance claim and receive money in one’s account within a snap is already available to BTA customers. This is because BTA is very active in facilitating the daily life of customers and company specialists by streamlining and automating internal processes and improving external systems. It is a continuous development process based on global trends and customer demands. That is why, in the development and management of the new rental houses, BTA will provide the most convenient and modern management principles to create a positive customer experience.


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 sole shareholder of BTA is Vienna Insurance Group AG (VIG), the leading insurance group both in Austria and in the entire Central and Eastern European (CEE) region. Around 50 insurance companies in 30 countries form a Group with a long-standing tradition, strong brands and close customer relations. The more than 25,000 employees in the VIG take care of the day-to-day needs of more than 22 million customers. VIG shares have been listed on the Vienna Stock Exchange since 1994. The VIG Group has an A+ rating with stable outlook by the internationally recognised rating agency Standard & Poor's. VIG cooperates closely with the Erste Group, the largest retail bank in Central and Eastern Europe.

Additional information:
Elīna Zvejniece
Marketing and Public Relations Department Director 
BTA Baltic Insurance Company AAS
e-mail elina.zvejniece@bta.lv
mobile: + 371 29374827