Research and Markets: Life Insurance in Latvia - Key Trends and Opportunities to 2017

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Research and Markets ( has announced the addition of the "Life Insurance in Latvia, Key Trends and Opportunities to 2017" report to their offering.

During the review period (2008-2012), Latvia's insurance industry was affected by the global financial crisis. The overall insurance industry in Latvia recorded a decline in written premium at a review-period compound annual growth rate (CAGR) of 3.1%. The life insurance segment registered a positive CAGR of 6.8% during the review period.

This was due to growth in private consumption, investments and exports. Life insurance is expected to benefit from an increase in the Latvian population's disposable income and growth in life expectancy over the forecast period. The growing economy is anticipated to have a positive impact on the segment by creating favorable economic conditions for growth. The Latvian life segment is expected to grow at a CAGR of 11.6% over the forecast period (2012-2017).

Key Highlights

  • The endowment category led the life segment with 62.5% of the segment's total written premium in 2012.
  • The life segment is expected to adopt better practices as major foreign insurers such as Swedbank Life, SEB Life, Sampo Group's Mandatum Life and SEB Life establish presences.
  • Latvia's growing economy is anticipated to positively impact the life segment as private consumption, investments and exports increase.
  • The segment is expected to benefit from an increase in disposable income and life expectancy, although falling employment and a declining population will limit growth in the segment.
  • At the end of 2012, a total of nine domestic companies operated in the Latvian insurance industry, of which two were life insurers and the remaining seven were involved in non-life business.

Key Topics Covered:

1 Executive Summary

2 Introduction

3 Regional Market Dynamics

4 Life Insurance - Regional Benchmarking

5 Latvian Insurance Industry Attractiveness

6 Life Insurance Outlook

7 Analysis by Distribution Channels

8 Porter's Five Forces Analysis - Latvian Life Insurance

9 Reinsurance Growth Dynamics and Challenges

10 Governance, Risk and Compliance

11 Competitive Landscape and Strategic Insights

12 Business Environment and Country Risk

Companies Mentioned

  • Citadele Life
  • Compensa Life Vienna Insurance Group SE
  • Ergo Latvija dziviba
  • Mandatum Life Insurance Baltic SE
  • MetLife Amplico
  • SEB Dzivibas Apdroinaana
  • Swedbank Life Insurance SE

For more information visit

Research and Markets
Laura Wood, Senior Manager
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector: Life Insurance


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