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Tuesday 22.08.2017 | Name days: Rudīte, Everts
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ERGO boosts performance indicators 15%

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUIn May 2011, ERGO companies in Latvia managed to improve performance indicators by more than 15% in both life and non-life insurance segments, compared to the same period in 2010.

Overall, in May ERGO insurance group companies in Latvia, Lithuania and Estonia boosted their performance in all insurance segments, compared to the exact period in 2010. Life insurance in the Baltics reported a growth of 18.5%, health insurance – even of 25%, while non-life insurance companies in the Baltics improved performance by 4%, the company informs.

In the first quarter of 2011, ERGO Life Insurance SE earned more than 2.1 million euro, which is ten times more compared to the first quarter of 2010. The performance indicators of ERGO insurance companies in the Baltics show continued growth – particularly positive performance was observed in life insurance segment, reveals Deniss Sazonovs, member of the company’s board in Baltics.

Assessment of the first five months performance indicates constant life insurance market segment growth. Life insurance in Latvia and the Baltic States is currently assessed as one of the most promising insurance businesses with high growth potential, especially in the coming years. ERGO’s operating results clearly demonstrate market recovery signs, Sazonovs recognizes.

Particularly good May indicators were attained by ERGO Life Insurance SE branch in Latvia, growing 13% in life insurance segment.

In addition, compared to the analogue period last year, ERGO in Latvia and the Baltic States managed to expand in several types of insurance. In non-life insurance segment in Latvia, premiums were written at the extent of 913.7 thousand euro (+13.7% growth). In the Latvian life insurance segment, written premiums totalled 173.3 thousand euro (+13% growth), in the Baltic States – 1.7 million euro (+18.5%).

While, written premiums in the Latvian health insurance segment accounted for the largest increase of 19.7% (348.9 thousand euro), in the Baltic States – for 0.4 million euro (+25%).


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