Most often, middle-aged women of 43 years of age are insuring their lives, signing an agreement for 8 years on average and allocating about 50 euros per month. Only 17% of people with high income insure their lives, and only 6% of people with low incomes think about life insurance when taking a loan.
News about sudden or tragic death of people or situations when children are left without a breadwinner because of an accident make Latvians think about necessity of life insurance. Sometimes people who have recently experienced the death of loved ones, learn that abroad somebody has received a large insurance compensation, and decide to insure themselves too.
ru.sputniknewslv.com also reports that Latvian, Lithuanian and Estonian life insurance companies are uniting. The principal office of the joint company will be located in Latvia. According to the information of Agniesa Strazda, Head of SEB bank communication department, SEB will unite the life insurance companies operating in the Baltic States into one European company SEB Life and Pension Baltic SE. The merge process is planned to be completed in early 2019. It is noted that these changes will not affect the daily customer service operation. SEB insurance companies in Latvia, Lithuania and Estonia provide a wide range of life insurance and savings services and currently serve more than 198 thousand customers. Their market share reaches 27% and the total assets amount to 542 million euros.
Head of SEB dzivibas apdrosinasana Kristine Lomanovska said that companies’ merger will allow them to more effectively develop as a single enterprise and increase competitiveness. According to her, the joint company plans to develop a unified approach to customer service and increase the efficiency of the service.
In 2017, the profit of SEB dzivibas apdrosinasana amounted to 733.3 thousand euros, 49.4% less than in 2016, the gross amount of signed insurance premiums was 40.9 million euros, 13% more than the sum of 2016.
Photos per websites: press.lv, mixnews.lv