2017 Balcia Insurance Lithuanian branch was established
In April of 2017, Balcia opened its Lithuanian branch. The company is to focus on delivering a smooth transaction of the portfolio from Compensa Vienna Insurance Group UADB (Lithuania) and retaining as much of its clients as possible.
2017 Balcia Insurance fully focuses on development of European branches
With operations in Poland, France, Germany, the UK, Spain and Italy now being the focal point of business, Balcia is set to provide exceptional quality insurance products in European countries, flexibly suited to each market’s requirements.
2016 The company closed the deal on selling Baltic business, still keeping 10% of the equity
In August of 2016, the company closed the deal with Vienna Insurance Group (VIG) that acquired the majority of shares (90%) of AAS BTA Baltic Insurance Company with headquarters remaining in Latvia and branch offices being in Lithuania and Estonia.
2016 The company rebranded to BALCIA INSURANCE SE
In November of 2016, the company starts operating as Balcia Insurance SE. The new name was registered in the Register of Enterprises of Latvia on 02.11.2016.
2015 Major company reorganization completed
In July of 2015, Baltic operations were transferred to AAS BTA Baltic Insurance Company, but BTA Insurance Company continued to run all non-Baltic branches - Poland, Germany, France, the UK, as well as to manage the business under the FoS principles in Spain and Italy.
2014 A daughter company was founded
In October of 2014, the company reorganisation started with founding a daughter company AAS BTA Baltic Insurance Company.
2014 Opened a branch in Poland
Focus on developing new products for markets outside the Baltic region.
2013 Opened a branch in France
The company is listed among Deloitte’s 50 largest insurers in Central Europe.
2011 Opened a UK branch
2011 The company successfully completed its transition to operating as a European company
Reorganised and renamed: since then known as BTA Insurance Company SE (Societas Europaea, lat.)
2010 Launched operations in Germany and Italy
2009 Launched operations in France and Poland
2009 The third largest insurer in Baltic region
2008 Launched operations in Spain
2008 Became the largest insurance company in Latvia
(total gross premiums, technical reserves and balance sheet)
2006 A branch opened in Estonia
2002 Lithuanian branch was opened
1997 One of the first companies to offer third party motor liability (MTPL) insurance in Latvia
1993 A company named Baltijas Transporta apdrošināšana was established
An insurance company was established on 1 November 1993, providing its customers, individuals and companies, the broadest range of non-life risk insurance services.