In Latvia, the group received 72.6 million. EUR income (in 2022 – EUR 62.9 million), in Estonia – EUR 56.2 million. euros (49.4 million euros). In total, the group’s income in the Baltic countries grew by 19 percent last year. – up to 236.8 million EUR (EUR 199.2 million), Vienna Insurance Group reported on Thursday.
The company, after the recalculation of the 17th IFRS standard, earned 7 million. EUR net profit – 5.4 times more than in 2022 (EUR 1.3 million). Profit before taxes last year amounted to 8.2 million. euros – 6.3 times more than in 2022 (1.2 million euros).
“We achieved these results despite the growing claims inflation, rising insurance prices and the biggest catastrophic natural phenomenon recorded so far – the summer hailstorm, which severely affected all three Baltic countries and caused approximately 8 million worth of damage. euros”, Deividas Raipa, Chairman of the Board of Compensa Vienna Insurance Group, said in a statement.
The report states that this year the company intends to further develop its offers to consumers in the Baltic markets. It will also seek to address the risks of a possible second wave of inflation due to geopolitical tensions and rising supply chains.
According to the company, it occupied 11.1 percent last year. non-life and health insurance markets in the Baltic countries. In Latvia, the market share reached 12.2 percent, in Estonia – 10.7 percent, and in Lithuania – 10.6 percent.
According to “Sodros”, the company has employed 415 employees in Lithuania.
Source: BNS
