Latvian Insurers Association (LIA) is a society, which was founded on 12 August, 1993, by joint stock insurance companies registered in the Republic of Latvia.
The principal aim of the LIA is to advance the development of Latvian insurance industry. The main tasks of the LIA are:
- to participate in perfection of legislation regulating insurance entrepreneurship;
- to represent the common interests of the Latvian insurance companies in state authority and administration institutions, public and international organizations;
- to inform the society about the current events in Latvian insurance market;
- to organize elevation of professional qualification of insurance company employees.
LIA unites 15 insurance companies and branches of foreign insurers (9 non-life and 6 life), which control approximately 99% of the total Latvian insurance market. Our members offer all kinds of insurance including motor, property, health, life, as well as pension and savings insurance.
The insurance industry of Latvia makes a significant contribution to the state economy and provides support for thousands of individuals and companies. In 2017 an average of EURO 241 per capita was spent on insurance in Latvia; the insurers operating in Latvia paid out claims at the amount of EUR 772 thousand daily.
LIA is the member of Insurance Europe (IE). IE unites 35 national member associations and represents around 3600 European insurance companies.