Balcia Insurance SE is an internationally-recognized general insurance expert with many years of experience behind it. Established in Latvia in 1993 under its name Baltijas Transporta apdrošināšana (later – known as brand BTA), it soon became one of the leading full-scale insurance providers in the emerging Baltic markets.
Since 2002, the company has extended its presence to the Baltic region, opening branches in Lithuania and Estonia. In 2008, in the wake of the financial crisis, the insurer refocused its strengths and expanded further into European markets. Offices in France, Poland, Germany, and the UK were opened, and operations were launched in Spain and Italy. The company was subsequently ranked among the 50 largest insurers of Central Europe (Deloitte ranking report 2013).
In 2015, the company underwent major restructuring by splitting the businesses – transferring the Baltic portfolio to newly established daughter company, and uniting its operations in the UK, France, Germany, Poland, Italy and Spain under the umbrella of Balcia Insurance SE.
After selling the major shares of the daughter company and Baltic business accordingly, since 2016 Balcia Insurance is focused on developing the business outside Baltic region. In 2017, Balcia marked its return to the Baltics by opening a branch in Lithuania.