Tax and capital flight loopholes closed, but insurance market sees fall in liability and property premium income

Although the Latvian market continues to develop positively, some observers suggest that in the long-term the largest risks will be placed outside the country while mass risks will be covered to a large extent by bank-related insurers

In July 2006 there were 14 active non-life companies including two branches and the five largest accounted for around 70% of non-life market income. All but one company were joint stock companies; there was one small mutual and two branch operations.