The Latvian personal accident and health segment declined significantly during the review period (2008–2012), at a compound annual growth rate (CAGR) of -6.4%, primarily due to economic contraction following the global financial crisis. This affected the segment’s largest category, health insurance, causing reduced government spending on healthcare. However, in November 2013, the Latvian government made health insurance mandatory.
This is anticipated to increase awareness of health insurance in the country, thereby increasing demand for health insurance products over the forecast period (2012–2017). The growing business environment, the tax benefits associated with life and health insurance products, Latvia’s entry into the eurozone, and rising demand for personal accident, travel and health insurance are all anticipated to support the growth of Latvian personal accident and health insurance. The segment is anticipated to record a forecast-period CAGR of 10.3%.
The report provides in depth market analysis, information and insights into the Latvian personal accident and health insurance segment, including:
- The Latvian personal accident and health insurance segment’s growth prospects by insurance categories
- Key trends and drivers for the personal accident and health insurance segment
- The various distribution channels in the Latvian personal accident and health insurance segment
- The detailed competitive landscape in the personal accident and health insurance segment in Latvia
- Detailed regulatory policies of the Latvian insurance industry
- A description of the personal accident and health reinsurance segment in Latvia
- Porter's Five Forces analysis of the personal accident and health insurance segment
- A benchmarking section on the Latvian life insurance segment in comparison with other countries in the Central and Eastern European region
This report provides a comprehensive analysis of the personal accident and health insurance segment in Latvia:
- It provides historical values for the Latvian personal accident and health insurance segment for the report’s 2008–2012 review period and forecast figures for the 2012–2017 forecast period.
- It offers a detailed analysis of the key sub-segments in Latvian personal accident and health insurance segment, along with market forecasts until 2017.
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
- It analyses the various distribution channels for personal accident and health insurance products in Latvia.
- Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in Latvia for the personal accident and health insurance segment.
- It provides a detailed analysis of the reinsurance segment in Latvia and its growth prospects.
- It profiles the top personal accident and health insurance companies in Latvia and outlines the key regulations affecting them.
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Reasons To Buy
- Make strategic business decisions using in depth historic and forecast market data related to the Latvian personal accident and health insurance segment and each category within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Latvian personal accident and health insurance segment
- Assess the competitive dynamics in the personal accident and health insurance segment, along with the reinsurance segment
- Identify the growth opportunities and market dynamics within key product categories
- Gain insights into key regulations governing the Latvian insurance segment and its impact on companies and the market's future
- The Latvian personal accident and health insurance segment declined significantly during the review period, at a CAGR of -6.4%.
- Health insurance, the segment’s largest category, declined significantly during the review period.
- Tax exemptions are a key driver for individuals to invest in health insurance.
- The Latvian personal accident and health insurance segment comprises domestic and foreign insurers.
- Healthcare services will be mandatory in the country from July 1, 2014.
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Spanning Over 239 pages, 139 Tables and 164 Figures “Personal Accident and Health Insurance in Latvia, Key Trends and Opportunities to 2017” report covering the Regional Market Dynamics, Personal Accident and Health Insurance – Regional Benchmarking, Latvian Insurance Industry Attractiveness, Personal Accident and Health Insurance Segment Outlook, Analysis by Distribution Channels, Porter’s Five Forces Analysis – Latvian Personal Accident and Health Insurance, Reinsurance Growth Dynamics and Challenges, Governance, Risk and Compliance, Competitive Landscape and Strategic Insights, Business Environment and Country Risk, Appendix. The report covered 9 companies - Ergo Latvija Dzīvība, AAS Balta, BTA Insurance Company SE, Baltikums, AAS Gjensidige Baltic, Compensa Life Vienna Insurance Group SE, Mandatum Life Insurance Baltic SE, MetLife Amplico, SEB Dzīvības, Apdrošināšana.
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