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Lithuania 1Q2022 Market Portfolio
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The leaders of the Lithuanian insurance market turned out
In the non-life insurance market of Lithuania, in the first quarter of this year, Lithuania's insurance belonged to the Polish PZU group, while at that time the Swedbank Life Insurance Branch was the leader in the life insurance market in Lithuania.
17 May 2018Bank of Lithuania: Over two-thirds of settled disputes between consumers and providers were in the field of insurance
In 2017 the Bank of Lithuania settled more than 500 disputes between consumers and providers of financial services. Most disagreement (over two-thirds) was in the field of insurance, while disputes with banks accounted for a fifth.
25 April 2018Aviva's Lithuania arm to repay some customer money after law breach
The Lithuanian arm of British insurer Aviva <AV.L> will return 349,000 euros (£) to customers after the Baltic country's central bank ruled it had not acted in their best interests.
20 March 2018STATISTICS: 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.
28 February 2018LITHUANIA: Inreal sells for Ergo
Inreal is to act as agent in the sale of 23 properties across the country by insurance company Ergo.
7 February 2018LITHUANIA: Ergo pays 2.4 million euros for damages caused by swine fever
Insurance company Ergo has paid EUR 2.4 million to a farm in Lithuania to cover losses from putting down 24,000 pigs because of swine fever. This is the largest insurance claim paid by Ergo to cover losses in agriculture in Baltic States in the past couple of years, BNN was told by Ergo.
7 December 2017STATISTICS: LITHUANIA, 3Q: Life and motor insurance fueled the largest share of the market growth
Lithuania's insurance market increased in absolute value by EUR 82 million totalling EUR 580 million at the end of September 2017, according to the Lietuvos bankas's 3Q figures.
15 November 2017Lithuania: Central Bank issued a warning to ERGO Insurance SE for violating payment procedures
Bank of Lithuania announced it issued a warning to ERGO Insurance SE - which operates in the country through a branch -, because as a result of an investigation, it identified that in administering insured events the insurer was not duly following the procedure for payment of the insurance benefit established in Article 98 of the Insurance Law.
8 November 2017STATISTICS: LITHUANIAN insurance market posted robust half-year GWP growth
Lithuanian insurers reported GWP of EUR 387.7 million in 1H 2017, the growth rate within the entire insurance market being 17.4%, according to the half-year figures published on the Central Bank's website.
24 August 2017LITHUANIA: The direct investment flow continued to be positive in Q1 2017
The Bank of Lithuania and Statistics Lithuania publish the provisional data on direct investment for Q1 2017. Direct investment statistics was supplemented with the indicators of income from equity instruments (dividends), excluding reinvestment, and income from debt instruments (interest), calculated by applying the directional principle.
5 July 2017LITHUANIA: AIG to close its Vilnius service center after operating for two years
AIG - American International Group announced it is closing its service center operations from Vilnius, Lithuania. The service center was opened in April 2015 to service insurance policies, manage claims and oversee payouts, wrote "The Baltic Course".
29 June 2017STATISTICS: LITHUANIAN insurers posted Q1 five times higher gross profits y-o-y
Lithuanian insurers reported GWP of EUR 184.7 million in Q1 2017, while growth within the entire insurance market was 16%, according to the figures published on the Central Bank's website.
8 June 2017LITHUANIA:Telia introduces travel insurance
Mobile operator Telia Lithuania has started offering a travel insurance service for customers taking trips to foreign countries. The offer was launched in cooperation with insurance company Compensa and insurance broker Edrauda.
23 March 2017STATISTICS: LITHUANIA: After 10% y-o-y increase in FY2016 GWP, CB predicts a slowdown in FY2017 rates
Lithuanian insurers reported GWP of EUR 709.8 million in 2016, while growth within the entire insurance market was 10%. The amount of insurance premiums within the non-life insurance sector stood at EUR 463.1 million last year, an increase of 13.2% y-o-y, mostly driven by the motor insurance classes.
2 March 2017STATISTICS: LITHUANIA's market totaled almost a half billion euro in 3Q
Lithuania's insurance market totalled EUR 498 million after 3Q, up by 7.4% y-o-y. Non-life segment grew by 12.6% to EUR 345 million (69.2 of total GWP), while life insurance market was down by 2.6 % to EUR 153 million, according to the Lietuvos bankas's 3Q figures.
8 December 2016LITHUANIA's H1 direct investments to Estonia fall 59%
Lithuania's foreign direct investments in Estonia shrank by 58.8% y-o-y
to 89.4 mln euros in the first half of 2016, while investments in Cyprus
soared by 43% to 277.6 mln euros, the Verslo Zinios business daily said
on Friday, writes LETA/BNS. According to the report, Lithuania's
corporate investment grew in vocational, research and technical
operations in Cyprus, mainly business headquarters, while investments in
Estonia declined in financial and insurance operations.
13 October 2016STATISTICS: 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).
25 August 2016BITE LITHUANIA offers insurance for handset screens
Mobile operator Bite Lithuania has introduced insurance for mobile handset screens. According to a poll carried out by the operator, customers usually don't use handset screen repair services due to the high price. The operator offers the insurance to all customers buying handsets in its shops. The service is free during the first month and then costs EUR 1.99 per month. Subscribers choosing some new tariffs from the operator are offered the insurance free for three to 12 months.
17 August 2016STATISTICS: LITHUANIA: Record growth in the non-life share maintaining the market's growth rate
Since early 2016, insurance undertakings in Lithuania, as those across the European Union (EU), working in a new legal environment, have managed to maintain strong, albeit weaker, market growth rate.
9 June 2016LITHUANIA: Gjensidige to merge its Baltic companies
Gjensidige non-life insurer is merging its companies in the Baltic
States and plans to finish the process by this fall, informs LETA. After
the merger is completed, Gjensidige Group in the Baltics will be
operating as Gjensidige insurance company with branches in Latvia and
Estonia.
7 April 2016
