Insurance  group "Balta" audited profit before taxes in 1999 is LVL 995

582, af

-  LVL 798 110. Insurance group "Balta" last year in non-life insurance

premiums  has signed LVL 16 588 727, but in life insurance premiums LVL

513  343, net income from investments amounted to LVL 615 411. In total

net turnover in 1999

is  LVL 17 717 481. Insurance group "Balta" has reached increase of 15%

in non-life insurance and 7% in life insurance business.

JSC  "Balta"  management  has  signed  an  agreement regarding sales of

Lithuanian  insurance  company  "Baltic  Polis"  to  Parekss  Insurance

company.  Decision  is  based  on  the strategy of the Group to improve

insurance work in Latvia.