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



 

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.