6533b836fe1ef96bd12a0762

RESEARCH PRODUCT

The Challenges Faced by Life Insurance Companies in the Baltic States

Inna RomānovaRamona Rupeika-apogaSimon Grima

subject

Economic policymedia_common.quotation_subjectLife insuranceFinancial marketmedia_common.cataloged_instanceBusinessEuropean unionPenetration rateSix millionIndependenceInterest ratemedia_common

description

The Baltic life insurance market is a young steadily growing market. It began its development in the early 1990s when all three Baltic States, specifically Estonia, Latvia and Lithuania, have regained their independence. The Baltic life insurance market is limited due to a relatively small size with approximately six million inhabitants in all three countries. Additionally, the operations have deteriorated due to the low interest rates and the negative fluctuations in the financial market. The lessons learnt by the life insurers in the Baltic States are useful to other small countries in the European Union (EU) as well as to the larger States, to help bring to light the challenges of those members whose voice is not always heard, dampened by the larger States, so as to enhance the effectiveness of competitiveness, regulations and common policy within the EU.

yearjournalcountryeditionlanguage
2020-01-01
https://doi.org/10.1007/978-3-030-49655-5_3