Lithuania

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

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

European Union: EU member, since 2004


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

1 EUR = 3.4528 LTL (fixed)


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



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Location map
author: OCHA/ReliefWeb


 


Statistics

Lithuania FY2018 Market Portfolio

Lithuania FY2018 Insurance Companies Rankings

See all statistics

Latest news



LITHUANIA: Property insurance disputes raised by 28% in 2018

The number of disputes between insurers and customers has raised mainly due to the low degree of customers' understanding over their insurance products, an analysis over the property insurance market recently published by Bank of Lithuania says.


LITHUANIA: Lithuania's credit rating affirmed at A- with a positive outlook

In February, 2019 the international credit rating agency FITCH Ratings, based on the country's sound public finances and strong economic situation, affirmed Lithuania's long-term credit rating at A- with a positive outlook, as the Ministry of Finance of the Republic of Lithuania announced.


LITHUANIA: decreasing prices for all types of transport insurance

In 3Q2018, prices of compulsory MTPL insurance scaled down, while the entire insurance market grew by 13%. Having come into force in October, significant amendments have strengthened consumer protection within the insurance market, Bank of Lithuania stated in a press release.


SEB to merge its three Baltic life units

SEB - one of the largest life insurers in Baltic region announced is planning to merge its units in the Baltic States, "into one legal entity to further improve our operational efficiency and deliver improved customer services. The merger will not affect our services to the customers".




The leaders of the Lithuanian insurance market turned out

In the non-life insurance market of Lithuania, in the first quarter of this year, Lithuania's insurance belonged to the Polish PZU group, while at that time the Swedbank Life Insurance Branch was the leader in the life insurance market in Lithuania.





LITHUANIA: Ergo pays 2.4 million euros for damages caused by swine fever

Insurance company Ergo has paid EUR 2.4 million to a farm in Lithuania to cover losses from putting down 24,000 pigs because of swine fever. This is the largest insurance claim paid by Ergo to cover losses in agriculture in Baltic States in the past couple of years, BNN was told by Ergo.