balta aas

What balta aas does

AAS BALTA is a private Latvian insurance company headquartered in Riga that serves private individuals and businesses. Its catalog spans mandatory and voluntary motor insurance, property and home cover, travel, accident, health, liability, digital-risk, pet, construction, agriculture, cargo, guarantees, and bonds, among other lines. BALTA is described as having more than 400,000 customers and paid €96 million in insurance claims in 2024. Source basis:.

The company primarily earns policy premiums through recurring insurance contracts, with pricing varying by product and customer profile; digital-risk cover is offered from €1.50 per month. Policy purchase and administration are supported by a digital platform comprising baltaonline.lv, the Mana BALTA portal, iOS and Android applications, internet-bank or e-signature authentication, phone service, and physical locations across Latvia. Source basis:.

Name

balta aas

Legal name

AAS BALTA

Website

https://baltaonline.lv

Company type

Private

Operating status

Operating

Short description

AAS BALTA is a Latvian insurer serving individuals and businesses with motor, property, travel, health, liability, accident, digital-risk, pet, and commercial coverage through digital, phone, and physical service channels in Latvia. (Source basis:)

Ownership category

akta.pro rank

Product category

Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Commercial Property Insurance (FSAJACAE)

akta.pro secondary industries

Commercial Auto & Fleet Insurance (FSAJAMAB), Mid-Market Commercial Package (Package Policies) (FSAJAFAB), Property Insurance (Homeowners, Renters & Commercial Property) (FSAJAMAD)

Keywords

• Motor vehicle insurance
• Property and home insurance
• Travel insurance
• Accident and health insurance
• Commercial liability 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

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

Revenue model

1. MTPL (OCTA) Insurance: Mandatory third-party liability insurance for vehicle owners. Covers damages caused by the policyholder to third parties in traffic accidents. Sold to both private individuals and businesses.
2. Motor Own Damage (KASKO) Insurance: Voluntary vehicle insurance covering own vehicle damage from accidents, theft, natural disasters. Offered as standard KASKO and 'Starta KASKO' (modular starter package).
3. Property/Home Insurance: Insurance for apartments, houses, and row houses covering fire, water damage, theft, natural disasters. Includes coverage for political conflict situations.
4. Travel Insurance: Coverage for medical emergencies, baggage loss, flight delays, rental car issues during travel. Offered for leisure, winter sports, business, seniors (75+), and study trips.
5. Accident Insurance: Financial support and medical expense coverage for accidents including injuries, frostbite, poisoning, bites. Includes specialized 'Safe from Day One' free newborn accident insurance.
6. Digital Risk Insurance: Coverage for online fraud including shopping fraud, investment fraud, bank account theft, fake payment requests, identity theft, charity fraud. Coverage up to 7,000 EUR per year.
7. Pet Insurance: Coverage for dogs and cats including veterinary costs for acute illness or injury, plus compensation for theft or death.
8. Builder's Civil Liability Insurance: Coverage for construction professionals' civil liability. Policy required for building permits. Offered with 15% online discount.
9. Professional Liability Insurance: Coverage for construction specialists, accountants/auditors, and real estate brokers.
10. Green Card International Insurance: International MTPL coverage for travel in Green Card system countries including Albania, Azerbaijan, Morocco, Moldova, North Macedonia, Tunisia, Turkey, Ukraine.
11. Health Insurance: Health insurance with claim registration for medical expenses, including services for foreigners and travelers.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

AAS BALTA is a Latvian insurance company that underwrites and distributes a broad portfolio of personal and commercial insurance products, including mandatory motor third-party liability (OCTA), voluntary motor insurance (KASKO and Starta KASKO), Green Card international motor coverage, home/property, travel, accident, health, pet, digital risk, solar panel, and recreational craft insurance for individuals, alongside builder's civil liability, professional liability, cargo, livestock, commercial property, guarantees and bonds, and political conflict risk insurance for businesses. Policies are sold and serviced primarily through digital channels (website baltaonline.lv, iOS/Android mobile app, Mana BALTA self-service portal with internet banking and e-paraksts login), supplemented by phone support and physical service points in Latvia.

Product overview

BALTA is a Latvian insurance company (AAS BALTA) offering a comprehensive portfolio of insurance products and services. The core offering includes mandatory motor insurance (OCTA) and voluntary vehicle insurance (KASKO/Starta KASKO), travel insurance, home/property insurance, accident insurance, and health insurance. The company serves both private individuals and businesses with products including civil liability, digital risk, pet, solar panel, and recreational craft insurance. For businesses, offerings extend to commercial property, professional liability, cargo, livestock, construction bonds, and political conflict risk insurance. Customer service is delivered through the Mana BALTA self-service platform accessible via web portal and mobile applications (iOS and Android).

Differentiator

Problem solved

Functional benefit

Products and services

• OCTA (Mandatory Third-Party Liability Insurance) Mandatory insurance for all motor vehicles covering driver-caused damages to other vehicles, people, and property in road traffic accidents. Sold to private individuals and businesses.
• OCTA for Electric Scooters Mandatory insurance for electric scooters covering driver-caused damages to other people and their property in road traffic accidents.
• Green Card International Motor Insurance International insurance contract covering damages to other vehicles, third parties, or their property in Green Card system member countries including Albania, Azerbaijan, Morocco, Moldova, North Macedonia, Tunisia, Turkey, Ukraine.
• KASKO (Voluntary Motor Insurance) Voluntary insurance compensating for road traffic accidents, auto theft, and natural disaster expenses for the policyholder's own vehicle.
• Starta KASKO (Modular Starter Motor Insurance) Modular voluntary insurance covering selected vehicle damage risks such as animal collisions, hail, windshield damage, and total vehicle loss.
• Home Insurance (Mājoklis) Insurance for apartments, houses, and row houses protecting against unexpected expenses from fire, leaks, theft, natural disasters, and other property-related incidents; includes optional coverage for political conflict situations.
• Travel Insurance (Ceļojumu apdrošināšana) Coverage for medical emergencies, baggage loss, flight delays, rental car issues during travel. Offered for leisure, winter sports, business, seniors (75+), and study trips.
• Accident Insurance (Nelaimes gadījumu apdrošināšana) Financial support and medical expense coverage for accidents resulting in injuries such as sprains, frostbite, poisoning, bites, and more.
• Safe from Day One (Free Newborn Accident Insurance) Free accident insurance for infants (0-90 days old) providing peace of mind during the first year of life. Parent or guardian can apply within 90 days of birth.
• Civil Liability Insurance (Individuals) Insurance compensating for expenses caused to third parties due to negligence or error by an individual policyholder.
• Digital Risk Insurance (Digitālie riski) Financial support up to 7,000 EUR annually for fraud-related losses, covering online shopping fraud, investment fraud, bank account/payment card fraud, fake payment requests, identity theft, and charity fraud.
• Pet Insurance (Mājdzīvnieki) Insurance covering veterinary costs for dogs and cats (including mixed breed) for acute illness or injury, plus compensation for theft or death.
• Tick-Borne Disease Insurance One-time financial support of 400 EUR if a tick-borne disease is confirmed from a tick bite.
• Solar Panel Insurance Insurance covering repair or replacement costs for damaged solar panels, their structures, or inverters.
• Recreational Craft Insurance Insurance covering damage, theft, or robbery of recreational vessels including motorboats, cutters, yachts, or boats.
• Builder's Civil Liability Insurance Coverage for construction professionals' civil liability when performing construction work. Policy required for submission to building authorities; available with 15% online discount.
• Professional Liability Insurance Coverage for professional liability of construction specialists, accountants/auditors, and real estate brokers.
• Health Insurance (Business) Health insurance with claim registration for medical expenses for employees, including services for foreigners and travelers.
• Commercial Property Insurance Insurance for commercial properties protecting businesses against property-related losses.
• Political Conflict Risk Insurance Additional protection for homes and businesses against political conflict risks.
• Livestock Insurance Insurance for livestock including cattle, pigs, sheep, and goats.
• Cargo Insurance Insurance for transported goods and cargo.
• Guarantees, Bonds and Securities Various guarantee and bond products for business needs.
• Mana BALTA (My BALTA) Self-Service Portal Customer self-service portal for managing policies, claims, invoices, and documents, available via web and mobile app with login via internet banking or e-signature.

Quantifiable outcome

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

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Latvian Internet Banks (Swedbank, SEB, Citadele, Luminor)coreTechnology or IntegrationIntegration partnership enabling BALTA customers to log in to the Mana BALTA self-service portal and purchase insurance policies using their existing internet banking credentials. Supports secure authentication for policy purchases.

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• BTA Insurance: One of the largest non-life insurers in Latvia and the Baltics, part of Vienna Insurance Group. Directly competes with BALTA across motor, property, and commercial lines in the Latvian market.
• ERGO Insurance Latvia: Latvian subsidiary of Munich Re-affiliated ERGO Group, offering property, motor, and life insurance in Latvia. Directly competes with BALTA across personal and commercial insurance lines.
• Balcia Insurance: Insurtech-focused insurer originating from Latvia with operations across the Baltics and other European markets. Direct competitor to BALTA, particularly in digitally distributed motor and travel products.
• Seesam Insurance Latvia: Latvian insurer part of Vienna Insurance Group, offering motor, property, travel, and other non-life lines. Direct competitor to BALTA across both personal and commercial segments in Latvia.
• If P&C Insurance Latvia: Latvian operation of Nordic insurer If (Sampo Group), offering non-life insurance products. Directly competes with BALTA in motor, property, and commercial insurance in the Latvian market.
• Gjensidige Latvija: Latvian subsidiary of Norwegian insurer Gjensidige, offering property, motor, and accident insurance. Directly competes with BALTA in the Latvian non-life insurance market.

Regional players

• Lietuvos Draudimas: Largest non-life insurer in Lithuania (Vienna Insurance Group subsidiary). Operates in an adjacent Baltic market with comparable product portfolio; provides a regional benchmark for BALTA's potential cross-border expansion.

Broad incumbents

• Allianz: Global insurance giant offering P&C and life products worldwide, including the Baltic region. A broad incumbent benchmark for product breadth, capital strength, and reinsurance capacity relative to BALTA.
• Munich Re: Global reinsurer and primary insurer (parent of ERGO), a broad incumbent that shapes reinsurance terms and competitive dynamics in the Latvian market where BALTA operates.

Emerging players

• Lemonade: AI-native, digital-first insurer using a mobile/app-driven model. Not a direct competitor in Latvia but a relevant benchmark for BALTA's mobile-app and digital-risk product strategy.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/balta.lv

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 balta aas