Seven banks and insurance companies have expressed interest in opening an affiliate company in Latvia. The companies comprise three from Austria and four from the UK. One is a bank and six are insurance companies, according to the Latvian financial and capital market commission.
The bank in question is Austrian Raiffeisen Zentralbank Цsterreich Aktiengesellschaft Bank. The insurance companies are Цsterreichische Kreditversicherung Coface Aktiengesellschaft, Grazer Wechselseitige Versicherung Aktiengesellschaft insurers, Markel International Insurance Company Limited, Brit Insurance Limited, Mitsui Sumitomo Insurance Company (Europe) Limited, the Association of Underwriters LLOYD'S.
A company incorporated in another EU member state may provide services in Latvia after a supervisory institution of that state has informed the Latvian financial and capital market commission.
Source: Dinas Bizness
