LITHUANIAN insurer LIETUVOS Draudimas earned EUR 5 million in Q1

8 May 2014 —
Largest Lithuanian insurance company Lietuvos Draudimas earned LTL 17.2 million (EUR 4.9 million) in pre-tax profit while non-life premiums written amounted to LTL 92.5 million (EUR 26.7 million) in Q1of 2014, reports LETA/ELTA.

The company's capitalisation is stable, it solvency margin totalled to LTL 184 million (EUR 53.3 million) surpassing the required solvency margin by 2.7 times.

Compared with the first quarter of 2013, the number of non-life premiums written by Lietuvos Draudimas increased by 3%. The company paid by 11% more claims year-on-year and earned by 5% less in pre-tax profit.

The beginning of the year was marked by successful investment activity. The company earned LTL 5.2 million (EUR 1.5 million) profit from investment (bonds, shares and managed real estate), 2.5 times more than in the first quarter in 2013.

Lietuvos Draudimas forecasts that in 2014 insurance market will grow by 8%, i.e. twice as much as the projected GDP growth.

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LITHUANIAN insurer LIETUVOS Draudimas earned EUR 5 million in Q1
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