Lithuania

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Location map
author: OCHA/ ReliefWeb


Location:
- Eastern Europe, bordering the Baltic Sea;
- Neighbours: Latvia, Poland, Belarus, Russia.

Climate: - transitional, between maritime and continental;
- wet, moderate winters and summers.

Macro indicators
* 2018 estimates
Surface:65,300km2
Population*:2.8million
Pop. density*:42.7people/km2
GDP*:45.1EUR billion
GDP/capita*:16,203.3EUR

European Union:
EU member, since 2004

Currency: Euro
Code: EUR
Since: 2015
- replaced Lithuanian litas (LTL)


Insurance market portfolio
* 2018 estimates
TOTAL LIFE*:28%
TOTAL NON-LIFE*:72%
Overall Property*:12%
Overall Motor*:45%


Sources:
Starting January 1st, 2012, the Bank of Lithuania took over the functions of the liquidated DPK



 


Statistics

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Lithuania 1H2020 Insurance Companies Rankings

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Lithuania 1H2020 Market Portfolio


See all statistics

Latest news

Bank of Lithuania, 1Q2012: The insurance market contracted due to lower life assurance volumes

According to the data of the Bank of Lithuania, the amount of insurance premiums written in the domestic insurance market over the first quarter of 2012 made up LTL 397.7 million, which was 0.2 per cent less than over the same period last year. In total, 1.09 million of insurance contracts were concluded, which was 4.0 per cent more than in the first quarter of 2011. Over the first three months of the year, insurers paid claims for the amount of LTL 255 million or 1.8 per cent less than a year ago.

LITHUANIA: Shareholders approved results of AB Lietuvos Dujos

AB Lietuvos Dujos shareholders at their Annual General Meeting of 23 April 2012 approved the Company's activity results of the year 2011. Compared to 2010, the consolidated audited sales revenue of AB Lietuvos Dujos increased by 5.3% and amounted to LTL 1,840.0 million* (2010: LTL 1,746.8 million). The revenue growth was determined by the higher revenue from the supply activity. The revenue from the transportation activity remained at the level of 2010, of which the revenue from gas transit showed a significant increase. The consolidated pre-tax profit of AB Lietuvos Dujos decreased from LTL 148.9 million in 2010 to LTL 104.3 million in 2011.



LITHUANIA: Central Bank approves candidates to ERGO board

The Board of the Bank of Lithuania approved Kestutis Bagdonavicius as a candidate to hold the position of the Chairman of the Board of ADB ERGO Lietuva and Deniss Sazonovs, Maarika Liivamagi and Saulius Jokubaitis as candidates to hold the positions of members of the Board of this company.


LITHUANIA: Insurance market contracts in January 2012

The amount of insurance premiums written in the domestic insurance market over the first month of this year made up 145.7 million litas in January 2012, which was 3.5% less than in a corresponding month 2011, the Bank of Lithuania said in a report.

LITHUANIA, FY2011: Insurance market grew driven by non-life

Last year was a successful one to the insurance market as its growth rate almost doubled compared with the national economy. In 2011, the amount of written premiums reached as high as LTL 1.7 billion, a year-on-year rise of 9.5%. The number of insurance contracts surged in 2011 by 3.3% to LTL 4.9 million. The premium amount paid out last year by domestic insurers saw an increase of 15.5% compared with the year before last year.

LITHUANIA: Bank of Lithuania takes over the insurance supervision task

As from 1 January 2012, the Insurance Supervisory Commission (ISC) of Lithuania was liquidate, its functions being transferred to a new operational unit of the Bank of Lithuania (LB), the Supervision Service. The new LB structure will supervise commercial banks and other credit and payment institutions, securities and insurance markets, and will investigate disputes of consumers and financial institutions.




Lithuanian insurance market - down by 20%

In the first semester of 2009, insurance companies that activate in Lithuania underwrote a volume of EUR 242 million, down by 20.1%, compared to the same period from 2008, as the National Insurance Supervisory Commission reported.

Lithuanian insurers profits drop 35%

In 2008, Lithuanian insurers accounted a EUR 24.76 million net profit, in decrease by 35% compared to 2007, according to preliminary results of Lithuanian Insurance Supervisory Commission (ISC).
Last year, out of seventeen companies, five insurers have ended the year with loss.