What BALTA does

BALTA is a Latvian non-life insurance company (legal name: Apdrošināšanas akciju sabiedrība "BALTA") founded in 1992 and headquartered at Skanstes iela 25, Riga, operating with 501-1,000 employees. It serves as the market leader in the Latvian non-life insurance segment with the largest customer base in the country at over 400,000 policyholders, and has been recognized as the fairest insurance company in Latvia for 22 consecutive years by LETA & SKDS public opinion surveys. The company offers a comprehensive multi-line P&C product portfolio spanning mandatory motor third-party liability (MTPL/OCTA), voluntary motor own-damage (KASKO and Starta KASKO), home/property, travel, accident, civil liability, digital risks (fraud/cybermobbing up to 7,000 EUR), pet, tick-borne disease, solar panel, and watercraft insurance for individuals, alongside business lines covering commercial property, health, agricultural (crops, livestock, special equipment), cargo and CMR liability, guarantees/sureties, and political conflict risk insurance launched June 16, 2026.

BALTA's technical infrastructure is built around a digital-first distribution model: the balta.lv corporate website (available in Latvian, English, and Russian), the baltaonline.lv 24/7 self-service portal for policy management, claims submission, and document access, and the BALTA mobile application for iOS and Android supporting PIN and biometric (Touch ID, Face ID) authentication. The Abonētā polise (Subscription Policy) sub-brand enables automated recurring-renewal billing via a partnership with AS SEB banka over 3D Secure rails from VISA and MASTERCARD, structurally converting annual policies into subscription-style recurring revenue for home, digital risks, accident, civil liability, and pet lines. Distribution is hybrid - digital self-service, inside sales via dedicated phone lines, insurance intermediaries/brokers, physical customer service points across Latvia, and direct sales consultants for complex commercial coverage.

BALTA generates revenue primarily through recurring annual insurance premiums across its P&C product lines. Reported scale metrics include premium volume exceeding 60 million EUR in Q1 2026 and 96 million EUR in claims paid to customers in full-year 2024. BALTA is a privately held joint-stock insurance company (AAS) with no disclosed parent company, subsidiaries, public ticker, or institutional funding rounds in the available source material, operating exclusively within the Latvian market as part of the broader Baltic States region.

Name

BALTA

Legal name

Apdrošināšanas akciju sabiedrība "BALTA"

Website

https://balta.lv

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

501–1,000 employees

Short description

BALTA is the leading Latvian non-life insurance company, offering MTPL, KASKO, property, travel, agricultural, commercial, and emerging-risk (political conflict, digital fraud) coverage to over 400,000 private and business customers via digital, phone, intermediary, and physical channels.

Ownership category

akta.pro rank

Product category

Non-Life Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Property Insurance (Homeowners, Renters & Commercial Property) (FSAJAMAD)

akta.pro secondary industry

Mid-Market Commercial Package (Package Policies) (FSAJAFAB)

Keywords

• Non-life insurance
• Motor insurance
• Property insurance
• Agricultural insurance
• Travel insurance

Headquarters

HQ city

Riga

HQ country

Latvia

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Property & Casualty Insurance Premiums: Core revenue from insurance premiums across multiple product lines including MTPL (OCTA), Motor Own Damage (KASKO), home/property, travel, accident, and specialized insurance products. Premium volume exceeded 60 million EUR in Q1 2026.
2. Commercial Insurance: Business-focused insurance products including commercial property, agricultural insurance (crops, livestock, equipment), construction, cargo, health insurance, and guarantees/sureties for enterprises.
3. Specialized Business Insurance: Professional liability products including tour operator guarantees, customs duty guarantees, excise duty security, waste management financial guarantees, and freight carrier CMR liability insurance.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

BALTA is a Latvian non-life insurance company underwriting insurance policies for private individuals and businesses. Its core offering spans motor insurance (mandatory MTPL/OCTA and voluntary KASKO), home/property, travel, accident, civil liability, digital risks, pet, watercraft, and agricultural insurance, plus specialised business lines including commercial property, cargo, CMR freight liability, health, and guarantees/sureties. A subscription policy mechanism ("Abonētā polise") with automatic recurring card payments and a mobile app with biometric authentication support continuous coverage and self-service policy management.

Product overview

BALTA is a Latvian insurance company offering a comprehensive portfolio of insurance products for both private individuals and businesses. The product lineup includes mandatory motor insurance (MTPL/OCTA), voluntary vehicle coverage (MOD/KASKO and Start KASKO), property and home insurance, travel and accident insurance, civil liability coverage, digital risks protection, pet insurance, and specialized offerings like tick-borne disease and solar panel coverage. For businesses, BALTA provides commercial property, health, agriculture (livestock, crops, special equipment), cargo, CMR liability, guarantees, and political conflict risk insurance. The company also offers a Subscription Policy (Abonētā polise) sub-brand enabling automatic policy renewals. The flagship digital platform is the BALTA Mobile Application for iOS and Android, providing self-service capabilities including policy management, claims submission, document handling, and in-app purchases with PIN or biometric authentication. The product architecture combines core insurance products with modular add-ons, allowing customers to customize coverage based on their specific needs.

Differentiator

Problem solved

Functional benefit

Brands

• Mana BALTA: Self-service portal and mobile app for policy management
• Starta KASKO
• Abonētā polise
• Drošībā no pirmās dienas

Products and services

• MTPL (Motor Third Party Liability Insurance) / OCTA Mandatory liability insurance for all motor vehicles covering damages caused to third parties, vehicles, people, and their property in road traffic accidents.
• MTPL for E-scooters / OCTA skrejriteņiem Mandatory insurance for electric scooters covering damages caused to other people and their property in traffic accidents.
• Green Card / Zaļā karte International insurance agreement covering accidental damages to other vehicles, third parties, or their property in countries participating in the Green Card system.
• MOD / KASKO (Motor Own Damage) Voluntary insurance covering road traffic accident damages, vehicle theft, and natural disaster-related expenses.
• Property Insurance / Mājoklis Insurance protecting against unexpected expenses from fire, leakage, theft, natural disasters, and other events affecting home and household contents.
• Travel Insurance / Ceļojumu apdrošināšana Financial and practical assistance during travel including medical expenses, lost baggage, flight delays, car rental issues, and more.
• Accident Insurance / Nelaimes gadījumi Financial support and medical expense coverage for injuries such as sprains, frostbite, poisoning, bites, and other accidents.
• Safe from Day One / Drošībā no pirmās dienas Free accident insurance for infants providing peace of mind during the first year of life, given to parents of newborns.
• Civil Liability Insurance / Civiltiesiskā atbildība Insurance protecting against financial losses from unintentional harm caused to third parties, covering family members, pets, and property damage to neighbors.
• Digital Risks / Digitālie riski Financial support up to 7,000 EUR annually for fraud-related loss of non-cash funds, covering 6 common fraud types and cybermobbing.
• Pet Insurance / Mājdzīvnieki Coverage for veterinary costs for dogs and cats (including mixed breed) in case of acute illness or injury, plus compensation for theft or death.
• Watercraft Insurance / Atpūtas kuģi Coverage for damage, theft, or robbery of recreational vessels including motorboats, cutters, yachts, or boats.
• Health Insurance / Veselība Health insurance coverage for business customers providing access to healthcare services and medical facilities.
• Business Property Insurance / Komercīpašums Insurance coverage for commercial properties and business assets.
• Political Conflict Risk Insurance Insurance coverage for damages from drone attacks, terrorism, sabotage, riots, and similar events related to political conflicts. Available for private individuals and businesses.
• Agriculture Insurance / Lauksaimniecība Comprehensive agricultural insurance including property, livestock, crops, and special equipment coverage for farms.
• Cargo Insurance / Kravu apdrošināšana Insurance coverage for loss or damage to goods during transport and freight carrier liability according to CMR convention.
• Guarantees and Sureties / Garantijas Various guarantee products including performance guarantees, tour operator guarantees, customs duty guarantees, excise duty security, and waste management financial security.
• Subscription Policy / Abonētā polise Automated subscription service for insurance policies that adapts to the customer's life rhythm, renews automatically, and provides continuous protection. Available for home, digital risks, accident, civil liability, and pet insurance.

Quantifiable outcome

• 96 million EUR in claims paid to customers in 2024
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core and minor.

• AS SEB bankacoreTechnology or IntegrationOfficial payment service provider for BALTA's subscription policy system, using 3D Secure online purchase security system developed by VISA and MASTERCARD. Processes recurring payments for automatic policy renewals.
• Partnered Car Service CentersminorChannel Partner/ Reseller/ DistributorNetwork of partnered auto repair shops for processing claims and vehicle repairs under KASKO and other motor insurance policies.
• Health Contracting OrganizationsminorImplementation/ SI/ Consulting PartnerHealthcare institutions contracted for health insurance claims processing and medical services under BALTA health insurance policies.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Lemonade: US digital-first InsurTech applying AI-driven underwriting and a mobile-native UX to commoditised P&C lines. Comparable to BALTA on the dimension of mobile/self-service distribution that has become its key cost-to-serve advantage.

Broad incumbents

• Sampo Oyj: Finnish financial group and parent of If P&C, whose Latvian branch competes directly with BALTA. A broader incumbent with capital and diversification far exceeding a standalone Latvian carrier.
• Vienna Insurance Group (VIG): Austrian insurance group that owns BTA and Seesam in the Baltics - the principal European group competitor to BALTA. VIG competes with BALTA via local subsidiaries but operates a much broader multi-country, multi-line portfolio.
• ERGO Group (Munich Re): German primary insurance arm of Munich Re, parent of ERGO Insurance SE in Latvia. A broad multi-line European incumbent whose Latvian branch competes with BALTA across P&C, life and health.
• Tryg: Listed Nordic P&C insurer with comparable product focus on motor, home and personal lines and a strong digital agenda. Useful peer for benchmarking BALTA's digital and claims-efficiency initiatives, albeit without overlapping the Latvian market directly.

Direct peers

• BTA Baltic Insurance Company: One of the largest non-life insurance carriers in Latvia and a direct, head-to-head competitor to BALTA across motor, property and commercial lines. Operates the same distribution channels (broker, digital, branch) and serves the same Latvian customer pool.
• ERGO Insurance SE (Latvia branch): Latvian branch of ERGO (Munich Re Group) offering motor, property, accident and travel insurance to Latvian individuals and SMEs. Competes directly with BALTA across the same core non-life lines and customer segments.
• Gjensidige Baltic: Baltic subsidiary of Norwegian mutual insurer Gjensidige, active in Latvia with P&C, motor and personal lines. Comparable on product breadth, digital distribution and mutual-style customer focus versus BALTA's large Latvian book.
• If P&C Insurance AS (Latvia branch): Latvian branch of Sampo Group's If P&C, one of the leading Nordic-Baltic non-life insurers. Directly competes with BALTA in motor, home and SME insurance across the Latvian market.
• Seesam Insurance AS: Baltic-focused non-life insurer with a Latvian operation offering motor, property, travel and accident coverage to consumers and small businesses. Directly comparable to BALTA on product mix and target customer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/aasbalta
• Facebookfacebook.com/baltaapdrosinasana

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BALTA