Per business lines, 27.58 % of the total GWP were written by life insurers (EUR 194.82 million), the rest were written by general insurers (EUR 511.53 million, or 72.42% of total GWP).
CB forecasted that the local insurance market will increase by 5-7% this year, to EUR 932 million. Non-life portfolio was estimated to grow by 5-7% (to EUR 670 million), while the life insurance market was expected to grow by 5-7% this year, to reach EUR 262 million.
14 non-life and 8 life insurers were active in the Latvian insurance market- including branches of foreign insurers.
Of all eight life insurers, the market leader in terms of GWP was a branch of the foreign insurer, Swedbank Life Insurance filialas (23.28% market share), followed by AVIVA Lietuva (19.20%). The market leader in non-life was the domestic insurer Lietuvos draudimas - 29.28% market share followed by BTA Insurance Company SE filialas - 15.95%.
Access www.xprimm.com and download the 3Q2019 Lithuanian insurance market statistics.