STATISTICS: Lithuania, FY2017: Life payments generated one third of total indemnities

Lithuania, FY2017: Life payments generated one third of total indemnities

Lithuania's insurance market totaled EUR 792.60 million at the end of 2017, 11.66% more y-o-y according to the year-end market statistics provided by Lietuvos bankas.

Non-life GWP was up by 21.20% y-o-y to EUR 561.25 million (70.81% of total GWP), while the life insurance segment decreased by 6.23% y-o-y to EUR 231.35 million.

In terms of payments, the aggregate value of insurance claims was up by 22.18% y-o-y to EUR 455.33 million, fueled by the 33% growth rate reported by life indemnities. Thus, the share of life insurance payments was 33% of total claims, while in case of non-life subclasses, the largest shares were accounted by the two motor business lines - MoD - 19% and MTPL - 25%, and property policies - 13% of total paid claims.

SWEDBANK Life Insurance (21.47% market share) was the largest life insurer as GWP, while LIETUVOS draudimas (31.01%) reported the largest non-life GWP volume.

Access www.xprimm.com and download the FY2017 Lithuanian insurance market statistics.

Market portfolio:
  • Gross written premiums
  • Paid claims
  • Growth rates
Life & non-life market rankings:
  • Gross written premiums
  • Paid claims

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

STATISTICS: LITHUANIA's H1 market grows 5.74% to EUR 330.20 million

Lithuania's insurance market (including branches of foreign companies), totalled EUR 330.20 million at the end of June 2016, up by 5.74% y-o-y, according to data published by the Central Bank of Lithuania. Non-life insurance market grew by 11.85% to EUR 230.08 million (69.68 of total GWP), while life insurance market lost 6.05 % to EUR 100.12 million (30.32% of total market).

2016-08-25

ON THE MOVE

Stefan STAVROSITU appointed Sales Director of GROUPAMA's Romanian unit

Groupama Asiguraari, the Romanian arm of the French group and of the leading players on he ocal market, has announced the appointment of Stefan STAVROSITU as National Sales Director, replacing Julien RAMILLION who, after holding this position for four years, will receive other responsibilities.

08.08.2018

TOP EVENT

LIVE: IIS Global Insurance Forum 2018 / Day2

The works of the Global Insurance Forum continued today in Berlin, Germany. Providing security for ageing populations in health care and pensions terms, as well as innovation and InsurTech or innovative strategies for the future development of the industry are on the today's agenda.

10.07.2018

See all