RIGA - The insurance market, which was booming together with the real estate market and affordable bank loans, is now for the second year in a row experiencing a decrease in volumes. This year for the first three quarters business dropped another 16 percent when compared to the previous year.Insurance companies have signed insurance premiums in the amount of 168.7 million lats (241 million euros). Also, the amount of paid compensation in the first three quarters of 2010 has decreased 26 percent, to 97.1 million lats.The decrease in volumes is explained by very tough competition a...
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