Baltijas Apdrošināšanas Nams doubles the amount of premiums and continues rapid growth

The sales of Baltijas Apdrošināšanas Nams in March this year increased by 160 %, compared to the same period of 2006. The total amount of gross premiums underwritten in the first quarter of 2007 was up 107%, which made Baltijas Apdrošināšanas Nams the fastest growing insurance company in Latvia.

The amount of underwritten premiums in March totalled LVL 1.03 million, a 160 % increase on March 2006. In the first quarter of 2007 the amount of gross premiums underwritten by Baltijas Apdrošināšanas Nams reached LVL 2.17 million, up 107% on the same period last year.

A majority of the company’s insurance portfolio, 61.29%, belongs to CASCO insurance. It is followed by the mandatory civil liability insurance of vehicle owners (18.87%), which the company started to offer late last year. The insurance of property and building also enjoys considerable demand.

„The rapid growth Baltijas Apdrošināšanas Nams is largely due to successful investments in the business development, winning sales policy and the growth of insurance market,” Aleksejs Pečerica, a member of the Baltijas Apdrošināšanas Nams board, explained.

The analysis of growth in different insurance market segments in the first quarter of this year, compared to the same period one year ago, shows the fastest growth for gross premiums in all building risks insurance (up 227%), CASCO (up 82%), as well as in building insurance (up 67%).