Key Market Indicators
Latvian Life Insurance Revenue is projected to soar to €25 billion by 2028, up from approximately €18 billion in 2023. This marks an average annual growth rate of 5.4%. However, the Latvian market has faced challenges over the past few years. Since 2018, the sector has experienced a sharp decline of 18.6% annually. In 2023, Latvia ranked ninth globally in life insurance revenue. Luxembourg led the chart with revenues matching Latvia's at about €18 billion. Denmark, Germany, and Italy followed closely, securing the second, third, and fourth positions respectively.
