Gjensidige Latvija

What Gjensidige Latvija does

Gjensidige Latvija is the Latvian branch (ADB „Gjensidige" Latvijas filiāle) of the Norwegian insurer Gjensidige Forsikring ASA, founded in Latvia in 2005 and headquartered at Lāčplēša iela 38, Riga. The entity sells a diversified portfolio of personal and commercial insurance products, including mandatory motor third-party liability (OCTA), KASKO comprehensive motor cover, residential property (MAXI Polise), travel, personal accident, employee health, civil liability, contractor's all-risk, credit payment protection, unemployment, and yacht/watercraft insurance. It serves both private individuals and Latvian businesses, with a particular focus on corporate employee health benefits supported by a network of over 1,700 contracted healthcare providers enabling cashless settlement.

The company operates an omnichannel distribution model combining a multilingual website (gjensidige.lv), a bank-authenticated self-service customer portal (klientuportals.gjensidige.lv), the Gjensidige Hand mobile app for iOS and Android, a phone-based sales and support line (67112222), and physical branches/service centers across Latvia. It also distributes through banking partners — SEB for unemployment insurance and Luminor for credit payment protection — and runs an add-on telemedicine service via SIA Digital Clinic. The technology stack centers on policy administration and digital claims handling rather than any documented AI/ML capability; no public APIs, no disclosed data flywheel, and no proprietary AI tooling are referenced.

Effective January 2, 2025, Gjensidige Latvija joined ERGO Group as part of a Baltic-level integration process with full operational absorption scheduled by end of 2026. OCTA sales have already been redirected to ERGO's platform, and existing Gjensidige policies remain in force until renewal, at which point customers will be migrated to ERGO products. The company employs approximately 60 people in Latvia and does not publicly disclose revenue or premium figures.

Name

Gjensidige Latvija

Legal name

ADB „Gjensidige" Latvijas filiāle

Website

https://gjensidige.lv

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

51–100 employees

Short description

Gjensidige Latvija is a Riga-based insurance branch of Norwegian parent Gjensidige Forsikring ASA, offering personal and commercial P&C, health, and specialty insurance to Latvian individuals and businesses, now integrating into ERGO Group.

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

Revenue model

1. Property and Casualty Insurance: Core insurance products including motor vehicle insurance (KASKO, OCTA), property insurance (MAXI policy for residential property), and commercial property coverage.
2. Health Insurance: Employee health insurance programs with access to over 1700 contracted healthcare providers across Latvia, offering cashless payments at partner facilities.
3. Travel Insurance: Travel insurance products for both domestic and international travel, including coverage for medical emergencies abroad.
4. Accident Insurance: Personal accident insurance coverage including invalidity, illness, trauma, and death benefits.
5. Specialty Insurance Products: Specialized insurance including civil liability, construction insurance, credit payment protection, unemployment insurance (SEB), yacht/watercraft insurance, and foreigner's health insurance.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels5 records

Core offering

Gjensidige Latvija is an insurance provider offering personal and commercial lines in Latvia, including motor (OCTA mandatory third-party liability and KASKO CASCO), property (MAXI Polise), travel, accident, health, civil liability, construction, credit protection, and specialty insurance products. The company distributes through digital channels (website, self-service portal, Gjensidige Hand mobile app) and a network of physical branches and client service centers. As of January 2025, Gjensidige's Baltic operations are being integrated into ERGO Group, with full integration expected by end of 2026.

Product overview

Gjensidige Latvija is a diversified insurance company offering a broad portfolio of personal and commercial insurance products through both direct digital channels (customer portal and mobile app) and intermediary/broker channels. The core personal lines include motor insurance (OCTA mandatory third-party liability and KASKO CASCO), property insurance (MAXI Polise for homes and contents), travel insurance, accident insurance, and health insurance. Commercial lines cover employee health insurance (with a network of over 1,700 contracted healthcare providers), civil liability, special equipment, contractor's all-risk, credit protection, and unemployment insurance. The company also provides a customer self-service portal and Gjensidige Hand mobile app for claim filing and policy management. As of January 2025, Gjensidige Latvija has merged with ERGO Group, with full integration to be completed by end of 2026.

Differentiator

Problem solved

Functional benefit

Products and services

• OCTA (Motor Third-Party Liability Insurance)
• KASKO (Vehicle CASCO Insurance)
• MAXI Polise (Private Property Insurance)
• Travel Insurance (Ceļojumu apdrošināšana)
• Accident Insurance (Nelaimes gadījumu apdrošināšana)
• Employee Health Insurance (Darbinieku veselības apdrošināšana)
• Foreigner Health Insurance (Ārzemnieku veselības apdrošināšana)
• Civil Liability Insurance (Civiltiesiskās atbildības apdrošināšana)
• Special Equipment Insurance (Speciālās tehnikas apdrošināšana)
• Contractor's All-Risk Insurance (Būvuzņēmēja visu risku apdrošināšana)
• Credit Payment Insurance for Luminor (Kredītmaksājumu apdrošināšana Luminor)
• SEB Unemployment Insurance (SEB Bezdarba apdrošināšana)
• Yacht and Small Vessel Insurance (Jahtu un mazizmēra kuģošanas līdzekļu apdrošināšana)
• Business Insurance (Uzņēmējdarbības apdrošināšana)

Quantifiable outcome

• 1700+ contracted healthcare provider organizations in Latvia
• +1 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature3 records

Partnerships

Six partnerships are on record, tiered flagship, core and minor.

• ERGO GroupflagshipStrategic or Co-development Partner · 2 January 2025Since January 2, 2025, Gjensidige in the Baltics has joined ERGO Group - one of the leading international insurance groups. ERGO is integrating ADB Gjensidige into its operations, combining the strengths of both companies - expertise in product and sales competence across all insurance lines. Full integration will be completed by end of 2026.
• Gjensidige Forsikring ASAcoreOthersNorwegian parent company - a leading Nordic insurance company that has operated for 200 years. Gjensidige Forsikring ASA has served customers in the Baltic region for 20 years before joining ERGO group.
• Healthcare Provider Network (1700+ providers)coreStrategic or Co-development PartnerExtensive network of over 1700 contracted healthcare provider organizations in Latvia including hospitals, clinics, pharmacies, laboratories, and rehabilitation centers. Enables cashless payment services for health insurance policyholders. Key providers include Medicīnas sabiedrība ARS, Veselības centrs 4, MFD Dziedniecība, ORTO klīnika.
• Latvian Banks (Swedbank, SEB, Luminor, Citadele)coreTechnology or IntegrationBank authentication integration enabling secure login to customer portal through internet banking systems of major Latvian banks - Swedbank, SEB, Luminor, and Citadele. Also supports eParaksts Mobile, eID cards, and Smart-ID authentication methods.
• SEB BankminorChannel Partner/ Reseller/ DistributorSEB unemployment insurance product distributed through SEB Bank to their banking customers in Latvia.
• Luminor BankminorChannel Partner/ Reseller/ DistributorCredit payment insurance product available for Luminor Bank customers in Latvia.

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Compensa Vienna Insurance Group: Latvian subsidiary of Vienna Insurance Group offering P&C, motor, health, and travel insurance. Targets both individuals and corporates in the same Latvian market with overlapping products, including employee health insurance.
• Balta: One of the largest non-life insurers in Latvia, offering motor, property, travel, accident, and liability products to individuals and businesses. Competes head-to-head with Gjensidige Latvija across the same distribution channels and product set.
• Seesam Insurance: Latvian insurer focused on motor, property, health, and accident insurance for individuals and small businesses. Direct competitor in the Latvian retail and SME insurance segments where Gjensidige Latvija is also active.
• Gjensidige Estonia: Estonian sister operation of Gjensidige Forsikring ASA, offering the same multi-line insurance portfolio and digital infrastructure. Part of the same Baltic group now integrating into ERGO.
• If P&C Insurance (Latvia): Nordic P&C insurer with a Latvian branch offering motor, property, travel, and business insurance. Competes with Gjensidige Latvija across the same Baltic/Nordic-style product set and digital channels.
• Gjensidige Lithuania: Lithuanian sister operation of Gjensidige Forsikring ASA, with the same product set, brand, and digital platform. Most directly comparable sister entity in terms of operating model and customer base.
• BTA Baltic Insurance Company: Major Baltic P&C insurer with a strong Latvian franchise, part of Vienna Insurance Group. Offers motor, property, health, and specialty insurance to individuals and corporates across the Baltics, directly comparable in scale and product breadth.
• ERGO Latvija: Latvian operation of ERGO Group and the entity into which Gjensidige Latvija is being integrated. Operates the same multi-line personal and commercial insurance products (motor, property, health, accident, travel) in the same market, now including redirected Gjensidige OCTA sales.

Broad incumbents

• Tryg: Major Nordic P&C insurer with a similar product mix to Gjensidige Forsikring ASA. Comparable as a broad incumbent in the Nordic-Baltic insurance landscape from which Gjensidige Latvija's underwriting practices and product design derive.

Others

• Swedbank Latvia (Insurance Distribution): Major Latvian bank providing Gjensidige's portal SSO and a distribution channel for partner insurance products. Comparable as a banking-anchored distribution and authentication counterparty in the Latvian insurance ecosystem.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/Gjensidige.lv
• LinkedInlinkedin.com/company/gjensidige-latvija

Revenue estimate

Valuation estimate

Number of profiles

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 Gjensidige Latvija