BTA – the only Baltic insurance company that has made into TOP 50 largest insurers in Central Europe

The auditors at Deloitte have produced a ranking report on Top 500 largest companies in Central Europe, which also includes a TOP 50 of largest Central European insurance companies by Gross Written Premium (GWP) totals in 2012. BTA Insurance Company SE (hereinafter – BTA) is the first and by now – the only Baltic insurance company, which has managed to step among the 50 most prominent insurers of Central Europe.

According to Insurance Europe data, there were more than 5300 insurance companies in total operating in Europe in 2012.

Jānis Lucaus, Chairman of the Board of BTA Insurance Company SE: ”Seeing our name printed on the list of TOP 50 largest Central European insurance companies is a great gift in our 20th anniversary, apart from that it also confirms that we had been right about choosing a strategy for our company during the times of crisis. We did not go for downsizing, we rather sought for new ways for growth, new avenues for development, and thus opted for expanding our business and taking our insurance services to markets outside Latvian borders. Currently, BTA successfully operates in Poland, Lithuania and Estonia, Germany, Italy, France, Great Britain and Spain. Our today’s competitors are global financial service providers who have developed their business over several generations, offer a wide range of insurance services and operate in the developed European countries, therefore I feel truly delighted that we – a company of 100% domestic capital – have made it among 50 top ranking insurance companies in Central Europe!”

The top encompasses data of 18 countries that make up Central Europe (Albania, Bosnia and Herzegovina, Bulgaria, the Czech Republic, Croatia, Estonia, Hungary, Kosovo, Latvia, Lithuania, Macedonia, Moldova, Poland, Romania, Serbia, Slovakia, Slovenia, Ukraine) and companies operating there. Eight Latvian companies have squeezed in the glossy lists of Deloitte CE companies ranking report, of which BTA is the only one having 100% domestic capital and management team.

BTA has succeeded to the Central European TOP 50 largest insurance companies list due to its highly successful company development performance figures in 2012. In 2012, the amount of gross premiums written by BTA rose to 142.45 million euros, a massive growth by 20% from 2011. BTA’s GWP growth keeps its upward momentum in the first six months of 2013 as well. The amount of gross premiums written by BTA in the first six months of 2013 has reached 84.3 million euros, representing a 10% year on year growth or increase by 7.5 million euros compared to the first six months of 2012.

Information on the Company 
BTA is a Latvian insurance company with 20 years’ experience in the Latvian market, offering the widest range of services. Since 2007 it has taken a strong leading position in the Latvian market. In February 2011, BTA successfully completed its transition to the form of operation as a European Company, merging the Lithuanian company BTA Draudimas and the Estonian subsidiary with the insurance company registered in Latvia. After the reorganisation, BTA was registered with the European register and attained a new name – BTA Insurance Company SE. It allows increasing the company’s business efficiency, unifying and centralising various administrative processes, which are the key preconditions for a stable BTA operation in the insurance market in the future and the ability to actually protect the interests of policyholders.

Information prepared by: 
Ilva Priedniece 
Head of Marketing and Public Relations Department of BTA 
ilva.priedniece@bta.lv   
Phone: 67025661

Additional information: 
Iveta Antonišķe 
Public relations agency Reputé 
iveta@repute.lv   
Phone: 26517416