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 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

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).



AON UK Ltd appoints new Chief Risk Officer

AON UK Ltd has confirmed the appointment of Matt KIMBER as Chief Risk Officer (CRO). Matt KIMBER has joined AON from JARDINE LLOYD THOMPSON Group (JLT), replacing John NICHOLSON who has been interim CRO for the last 11 months.


New Head of Investor Relations at AEGON

Jan Willem WEIDEMA has been appointed as the new Head of Investor Relations at AEGON. He succeeds Willem van den BERG who has led the Investor Relations team over the past 7 years.



"Insurance and Pensions reloaded" - the 7th EIOPA Annual Conference

The 7th EIOPA Annual Conference takes place today in Frankfurt am Main, Germany. A review of the current supervisory covergence issues and of the prospects of the Pan European Personal Pension Product are on the event's agenda, together with analyzing the ways in which regulation may enable innovation.



"IIF2017 - Insurance in the DIGITAL World" Conference took place in Vienna

"IIF2017 - Insurance in the DIGITAL World" conference brought together in Vienna well-known insurance professionals from all over the world who analyzed the latest digital trends in the industry, taking into account the fast digitalization of the financial services providers' world, in particular in the insurance field, which is creating both huge opportunities and strong challenges for the players.



Croatian Insurance Days Live

On 9 November has started in Opatija, Croatia, the 2017 edition of the Croatian Insurance Days Conference, the traditional meeting of the Croatian insurance top professionals with their European peers. XPRIMM Publications are supporting the event as Media Partners.



The 2017 Baden Baden Meeting: Short recap

The Baden-Baden meeting, one of the key events in the reinsurance calendar, has just set the final point of this year's edition. XPRIMM Publications have reported from the meeting's premises. Let's recap!


Baden Baden Headlines 3: CEE insurance markets are attractive for reinsurers

Central and Eastern Europe insurance markets are an important source of business for Lloyds, total premium income from this region increasing by EUR 64 million since 2010, pointed out the Lloyd's representative in a seminar dedicated to CEE insurance markets: "We are seeing strong growth from Czech Rep, Poland, Slovakia and Ukraine. At the same time are some contractions from Russia, Bulgaria, Romania and Hungary due to challenging trading conditions as political implications and other sanctions".


See all