Global broking giant Brokerslink has added Riga-based Perks to its international network, appointing it as its affiliate in Latvia and extending its reach across the Baltic region.
Perks is an independent insurance broker specialising in corporate and SME risks, including property and business interruption, as well as general and professional liability. It is led by founder Guntis Zoldners.
The move marks Brokerlink's entry into Latvia and comes as the network continues to build out its model, which aims to offer multinational clients global reach through locally owned brokers.
Brokerslink now has an active presence in 134 countries through a network of independent brokers and specialist firms.
Latvia and the Baltic markets draw more attention
Perks’ arrival as an affiliate comes at a time when the Baltic insurance markets are attracting increased interest from regional and international players. In Latvia, insurers reported gross written premiums of around €329 million in the first quarter of 2024, up 11.4% year-on-year, with motor business accounting for roughly a third of the non‑life portfolio. Paid claims reached about €183 million over the same period, with motor hull and MTPL claims costs rising faster than overall claims.
While motor still dominates the non‑life market, corporate demand is growing for property, liability and more specialist covers as sectors such as logistics, manufacturing, agribusiness and commercial real estate develop. Inflation and supply chain pressures have pushed up repair and reinstatement costs, adding further complexity to placement and pricing.
Independent networks respond to broker consolidation
Brokerslink’s latest move also sits within a broader trend of consolidation among the largest global brokers, which has sharpened the focus on the role of independent firms in markets where local regulation, language and business culture heavily influence distribution.
Commenting on the Latvian appointment, Carla Alves, marketing and operations director at Brokerslink, said the Perks deal strengthens the network’s Baltic footprint.
“Expanding into Latvia is another step in the continued development of Brokerslink’s presence in the Baltic region. Perks brings a strong reputation in the local market, a clear advisory philosophy and valuable international experience. We are delighted to welcome Guntis and his team to the network and to extend our reach into this new territory," Alves said.
