Balta Insurance Company is the largest insurance company in Latvia with approximately 25% of the non-life insurance and 12% of the life insurance market. Established in 1992, the company has been profitable since inception.
As an early investor in Balta, NCH participated in several rounds of financing. At the time, capital in Latvia was very constrained and NCH’s investment allowed Balta to grow rapidly in an embryonic market during this formative time.
Realized – Balta shares were originally listed on the Riga Stock Exchange. NCH sold its 43% position in Balta in a cash transaction to Codan, a leading Danish insurance company.