Premiums up over 17% in Latvia

Data from Latvia’s central bank showed that aggregate gross written premium of insurers operating in the country increased by 17% year-on-year to €994.7 million (1.08 billion) in 2022, Xprimm reported. Branches of European Union insurers generated more than one third of the total premiums during the reported period. The aggregate net profit of local insurers dropped by more than 20% year-on-year to €28.8 million.