Freedom Monument to await Latvia’s Centenary Celebration insured


The symbol of statehood and freedom of Latvia – the Freedom Monument – will be insured also in the centennial jubilee year of our country. BTA Baltic Insurance Company AAS (BTA) has presented a 1.5 million euro worth Freedom Monument’s insurance policy to the Agency for Monuments in Riga for the 14th consecutive year already.


For the entire centennial celebration year, the Freedom Monument will be insured against fire, liquid and vapour damage, natural disasters and effects of illegal human activity. It means that BTA will cover all the monument’s repair and cleaning costs of one and a half million euros worth, without applying deductible.


The Freedom Monument, unveiled on 18 November 1935, has much suffered from the effects of the elements and vibrations caused by transport, therefore it has already been restored two times. The first restauration took place in 1980-1981, but was unexpectedly discontinued, without finishing all the scheduled works. The monument was restored for the second time already after the regaining of independence – from 1998 to 2001, as its reinforced concrete construction was in poor technical condition. The funds for restoration, likewise it was for erecting the monument, again were donated by the people. 540 thousand Latvian lats were collected for restoration purposes, and it was accomplished until the 800-year anniversary of Riga.


«The Freedom Monument, apart from being a symbol unifying the nation, is also an eminent piece of art. It is going to play a special role in the Latvia’s Centenary Celebration events, it is going to be the centerpiece, where the gazes of our eyes as well as the eyes of Riga’s guests will be fixed upon. Therefore we are honoured that we can help to maintain the looks of the Freedom Monument impeccable, also in the year 2018, so important to us», says Jānis Lucaus, Chairman of BTA’s Management Board. The price of the policy presented by BTA is approximately 1500 eiros.


There are a total of 178 monuments, memorials, decorative sculptures and outdoor objects in Riga, 126 of which are the property of Riga municipality. The Agency for Monuments in Riga is in charge of them, the Agency has carried out evaluation of the cultural, historical and material value of 37 of them, and their combined value in pecuniary terms exceeds 20 million euros. The cultural, historical and material value of the Monument of Freedom and of the memorial ensemble of Riga Fraternal Cemetery, have not yet been evaluated in pecuniary terms.


About BTA


BTA Baltic Insurance Company is a major insurance company in the Baltic States, offering the broadest range of non-life insurance services in Latvia, Lithuania and Estonia. The largest shareholder of BTA is Vienna Insurance Group AG, one of the leading insurers in Europe with 190 years of experience in the insurance field. More than 50 companies in 25 countries constitute the group, which employs 24,000 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