JS Parex Insurance Company was founded on 15 August 1994 with a paid-up fixed capital of 1 million LVL. The Company began its activities in the fourth quarter of that year. It entered a market which was already mature; there were 40 companies competing in the area of insurance. At the end of 1994 the Company employed 9 people. The amount of premiums written was 66, 000 LVL and the Company paid out 17, 000 LVL in claims.
On the basis of licences issued by Ministry of Finance of Latvia, Company offers to its clients more then 20 types of insurance…
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