Baltijas Apdrosinasanas Nams

What Baltijas Apdrosinasanas Nams does

Baltijas Apdrošināšanas Nams (BAN) is a privately held Latvian insurance company founded in 2000 and headquartered at Antonijas iela 23, Riga. The company provides a broad insurance portfolio to both individual consumers and corporate clients in Latvia, spanning motor (CASCO and the mandatory OCTA/MTPL), property (home and commercial), travel, personal accident, business health, civil liability (CTA), cargo, construction all-risks, and guarantee/surety bonds. Distribution is multi-channel: an online customer self-service portal (mans.ban.lv) accessible via internet banking authentication, a public e-commerce site (ban.lv) with online quote and MTPL purchase, a network of physical branch offices across Latvia, and a phone contact center, with brand presence on Facebook and Instagram. The site operates in Latvian, Russian, and English to serve Latvia's diverse population and inbound visitors.

The technology footprint is a conventional insurance technology platform rather than an AI-native stack. Core capabilities include the Mans BAN portal for policy management, claims submission with document upload, and invoice access; an MTPL online calculator and quote engine on ban.lv; and a trilingual content layer. No proprietary ML models, AI-assisted underwriting, or API/SDK surface is disclosed, and no mobile app is offered. The revenue model is built on recurring insurance premiums collected across product lines on annual billing cycles, with promotional discounts of 30% (travel), 20% (home), 15% (visitors to Latvia and personal accident), 7% (MTPL), and "special pricing" on CASCO used as acquisition levers. The registered BAN® trademark anchors brand identity across all channels.

Ownership, governance, and financial disclosures are absent from publicly available material. No parent company, subsidiaries, funding rounds, M&A activity, leadership team, regulatory actions, or third-party awards are documented, and revenue figures are not disclosed. The company maintains an "operating" status, with an active website and a customer portal, and has operated continuously since its 2000 founding.

Name

Baltijas Apdrosinasanas Nams

Legal name

Baltijas Apdrošināšanas Nams

Website

https://ban.lv

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

51–100 employees

Short description

Baltijas Apdrošināšanas Nams (BAN) is a Latvian insurance company founded in 2000 that offers personal and commercial insurance (motor, property, travel, health, liability, cargo, construction) to individuals and businesses in Latvia via a multilingual website, an online self-service portal, and physical branches.

Ownership category

akta.pro rank

Headquarters

HQ city

Riga

HQ country

Latvia

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Insurance Premiums: BAN generates revenue through collecting insurance premiums from policyholders. The company offers multiple insurance product lines including motor insurance (CASCO, OCTA/MTPL), property insurance (home, commercial property), travel insurance, health insurance, personal accident insurance, cargo insurance, construction insurance, civil liability insurance, and guarantee/surety bonds. Premiums are collected on a recurring basis with policy renewal cycles.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Baltijas Apdrošināšanas Nams (BAN) is a Latvian general insurance company that underwrites and distributes personal and commercial insurance products, including motor (KASKO/CASCO and mandatory OCTA/MTPL), travel, home, personal accident, health, commercial property, civil liability, cargo, construction all-risks, and guarantee/surety bonds. Policies are sold online, via a self-service customer portal (Mans BAN), and through physical branch offices in Latvia, with the offering available in Latvian, Russian, and English.

Product overview

Baltijas Apdrošināšanas Nams (BAN) is a Latvian insurance company offering a comprehensive portfolio of insurance products and services. The company serves both individuals (privātpersonām) and businesses (uzņēmumiem) with vehicle insurance (KASKO/CASCO), mandatory motor third-party liability (OCTA/MTPL), travel insurance, home insurance, health insurance, personal accident insurance, commercial property insurance, civil liability insurance, cargo insurance, construction insurance, and guarantee/surety products. The offering is delivered through a multi-channel model including online sales, an online self-service portal (Mans BAN/My BAN Portal), and physical branch offices, with the portfolio organized around the core insurance product lines supplemented by digital service capabilities.

Differentiator

Problem solved

Functional benefit

Products and services

• KASKO (CASCO) Motor Insurance Vehicle insurance covering damage, theft, and accidents for cars and other motor vehicles, offered at special prices for both individuals and businesses.
• OCTA (MTPL) Mandatory Motor Third-Party Liability Mandatory motor third-party liability insurance (MTPL) required for vehicle owners in Latvia, offered with a 7% discount and available via online calculator and purchase.
• Travel Insurance (Ceļojumi) Insurance coverage for travel abroad, including medical emergencies, trip cancellations, and lost baggage, offered with a 30% discount and available to both individuals and businesses for business travel.
• Home Insurance (Īpašums) Home insurance covering property damage, liability, and personal belongings for residential properties, offered with a 20% discount.
• Insurance for Visitors to Latvia (Iebraucējiem Latvijā) Insurance products designed specifically for visitors and newcomers to Latvia, covering health, accidents, and related needs, offered with a 15% discount.
• Personal Accident Insurance (Nelaimes gadījumi) Personal accident insurance providing coverage for injuries, disability, and death resulting from accidents, available to individuals and as employee coverage for businesses with a 15% discount.
• Health Insurance for Businesses (Veselības apdrošināšana) Health insurance for businesses covering medical expenses, treatments, and healthcare services for employees as part of employee benefits programs.
• Commercial Property Insurance (Komercīpašums) Insurance coverage for commercial properties including office buildings, warehouses, and business premises against damage and third-party liability.
• Civil Liability Insurance (CTA) Civil liability insurance protecting businesses against claims from third parties for bodily injury, property damage, or other liabilities arising from business operations.
• Cargo Insurance (Kravas) Insurance coverage for goods in transit, protecting against damage, loss, or theft during transportation for businesses shipping cargo.
• Construction All-Risks Insurance (Būvniecības) Construction all-risks insurance covering buildings under construction against damage, accidents, and third-party claims during construction projects.
• Guarantee and Surety Bonds (Garantijas) Guarantee and surety bonds providing financial security for business obligations, tenders, and contractual requirements.
• Mans BAN (My BAN) Online Customer Portal Online customer self-service portal providing policy management, claims submission with document uploads, invoice access, and insurance service capabilities, accessible via internet banking authentication.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators1 record

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• ERGO Group: Major European insurance group (Munich Re subsidiary) with operations across multiple countries, including Latvia. A broad incumbent whose Latvian branch is a direct peer; group-level capabilities in digital, reinsurance, and product development set the benchmark for what BAN must match locally.
• Vienna Insurance Group: Central European insurance conglomerate with a Latvian presence through Compensa. Operates across life, P&C, and health with substantially greater capital and reinsurance capacity — sets the competitive ceiling BAN faces in commercial lines.
• Gjensidige Forsikring ASA: Nordic insurance group that owns the Balta brand in Latvia. Functions as both direct competitor (via Balta) and as a benchmark incumbent for capital strength, product breadth, and digital capabilities in the regional market BAN serves.

Direct peers

• Compensa Vienna Insurance Group: Latvian insurer part of Vienna Insurance Group, providing motor, property, travel, civil liability, and corporate lines. Comparable to BAN across personal and commercial segments and in competing on bilingual service for Latvia's Russian-speaking population.
• Balva Insurance: Smaller Latvian general insurance carrier offering motor, property, travel, and commercial lines, similar in scale and positioning to BAN. Directly comparable as another domestic multi-line competitor.
• Gjensidige (Balta brand in Latvia): Leading Latvian non-life insurer operating under the Balta brand, owned by Norwegian group Gjensidige. Offers motor, home, travel, commercial, and specialty products through multi-channel distribution — directly competitive with BAN on the same product set and customer base.
• BTA Baltic Insurance Company: One of the largest direct P&C and health insurers in the Baltics, offering motor, property, travel, health, and commercial lines to both individuals and businesses in Latvia. Directly comparable to BAN across essentially the full product portfolio and customer segments.
• Seesam Insurance AS: Baltic insurance carrier offering motor, property, travel, accident, and health insurance in Latvia, Lithuania, and Estonia. Comparable to BAN in product mix and target on Baltic retail and SMB customers.
• ERGO Insurance SE Latvijas filiāle: Latvian branch of ERGO Group, providing motor, property, health, travel, and liability insurance to individuals and corporate clients. Comparable to BAN in product breadth, B2B/B2C segmentation, and multi-channel distribution.
• If P&C Insurance AS Latvijas filiāle: Latvian branch of the Nordic insurer If, offering personal and commercial P&C products including motor, home, and business insurance. Directly competes with BAN in the same product categories and distribution channels (online + advisory).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/baltijas.apdrosinasanas.nams
• Instagraminstagram.com/baltijas.apdrosinasanas.nams

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 Baltijas Apdrosinasanas Nams