STATISTICS: Lithuanian insurers' H1 GWP increased by 6.7% y-o-y
According to half-year market data published by the Central Bank, 27% of the total GWP were written by life insurers (EUR 127 million), the rest were written by general insurers (EUR 342 million, or 73% of total GWP).
In terms of premiums, significant growth rates were observed in almost all major types of insurance - Medical expense insurance (+23.7%), Assistance (+21%), Property (+13%), and Life (+8.5%), as the published statistics revealed.
At the end of June, 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 (GWP of EUR 29.7 million, 23.3% market share), followed by AVIVA Lietuva. By the same criterion, the market leader in non-life was the domestic insurer Lietuvos draudimas - GWP of EUR 95 million / 29% market share followed by BTA Insurance Company SE filialas.
Access www.xprimm.com and download the 1H2019 Lithuanian insurance market statistics.