Insurers’ net profit plummets 73%

Data from Latvia’s Finance and Capital Market Commission showed that local insurers’ aggregate net profit plunged almost 73% year-on-year to €2.8 million ($3 million) in the first quarter of the year, Xprimm reported. Meanwhile, all insurers operating in Latvia, including domestic insurers and European branches, reported an aggregate gross written premium of €253 million, a jump of 17% from the same period in 2021.