STATISTICS: Lithuanian insurers' H1 GWP increased by 6.7% y-o-y

26 September 2019 —
STATISTICS: Lithuanian insurers' H1 GWP increased by 6.7% y-o-y
The Lithuanian insurance market totaled EUR 469 million at the end of June 2019 with an 6.7% increase y-o-y. At the same time, insurance companies paid EUR 245 million in claims (8.7% more 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 and download the 1H2019 Lithuanian insurance market statistics.