Location map
author: OCHA/ ReliefWeb

- Eastern Europe, bordering the Baltic Sea;
- Neighbours: Latvia, Poland, Belarus, Russia.

Climate: - transitional, between maritime and continental;
- wet, moderate winters and summers.

Macro indicators
* 2018 estimates
Pop. density*:42.7people/km2
GDP*:45.1EUR billion

European Union:
EU member, since 2004

Currency: Euro
Code: EUR
Since: 2015
- replaced Lithuanian litas (LTL)

Insurance market portfolio
* 2018 estimates
Overall Property*:12%
Overall Motor*:45%

Starting January 1st, 2012, the Bank of Lithuania took over the functions of the liquidated DPK



tari standard

Lithuania FY2020 Insurance Companies Rankings

tari standard

Lithuania FY2020 Market Portfolio

See all statistics

Latest news

Most vehicles in LITHUANIA are stolen in Vilnius and Palanga

A study by non-life insurance company BTA revealed that each year thefts account for 2% of all CASCO (full-coverage car insurance) insured events in Lithuania. According to the data of the Police Department, 3,166 thefts were registered in Lithuania in 2013, or by 7% less year-on-year, informs LETA/ELTA.

LITHUANIAN market totaled more than half a billion euro in 2013

Lithuanian insurance market increased to EUR 563 million (LTL 1.95 billion) in 2013 from the previous year, as reported by the Bank of Lithuania. Non-life insurance accounted for 68% of all market, increasing by 8.7% to EUR 382 million (LTL 1.32 billion). The number of policyholders increased by 4% to around 5.25 million, due to the 4% increase in the non-life insurance segment to around 5.2 million.

LITHUANIA: State-owned housing mortgage insurer gets government aid

The Lithuanian Cabinet approved on February 12th, a loan of EUR 2.9 million for the state-owned housing mortgage insurance company, BUSTO PASKOLU Draudimas. The loan is necessary for helping the insurer to fulfill its obligations and continue to pay claims, informs LETA/ELTA.

BTA, LITHUANIA: Property insurance market growth expected in the near future

A recent survey made by the non-life insurer BTA showed that Lithuanian citizens are mostly interested in the accident insurance products, perceived by about a third of the respondents as providing the highest sense of security. The following top choices expressed were health insurance, property and Motor Hull insurance.

LITHUANIA, 3Q2013: On the path of stronger growth

Insurance market growth strengthened even more this year and life insurance segment was characterized by the largest volume of premiums written in six years, according to the January-September 2013 market data, recently published by the Bank of Lithuania.

LITHUANIA: 1-5 months insurance premium income increased by 10.6%

According to the Baltic communication Club 625 reported, Lithuania Central Bank data show that 1-5 parts of this legislation Insurance industry (including branches of foreign insurance companies in elevation) written premium income of 7.82786 billion cubic special, an increase of 10.6%.

LITHUANIA: Most drivers claim traffic safety can be increased by educating culture

Regardless of the age or driving experience, more than half of Lithuania's drivers believe that education of driving culture would improve traffic safety more than stricter penalties for violations of road traffic rules (KET) or greater number of patrol officers, says country's largest insurance company Lietuvos Draudimas after conducting the online pole. 10,000 of respondents participated in the survey, writes LETA/ELTA.

LITHUANIA, 1Q2013: Positive trend in all market segments

According to the data of the Bank of Lithuania, the amount of gross written premiums over the first quarter of 2013 totaled LTL 441.3 million (EUR 127.8 million), which was 11% more than over the same period last year. At the same time, in the analyzed period, insurers paid claims of LTL 315.7 million (EUR 91.4 million) or 28% more y-o-y.

MakoLab SA for PZU LITHUANIA - new proprietary system for insurance sale

MakoLab - a company specializing in development and deployment of complex online solutions for business - has designed, developed and deployed the dedicated LICOSS (Life Insurance Contract Sales System) system which supports selling of life insurance. The goal of the project is to increase these sales and reduce their costs by providing agents and brokers with an easy to use system which simplifies and automates processes of offering insurance policies, their calculation and verification; as well as cancelling of contracts.

LITHUANIA: Central Bank suspends insurance license of INDUSTRIJOS Garantas

The Board of the Bank of Lithuania terminated the insurance activities license of the closed joint stock insurance company Industrijos Garantas. This license was issued to the company under the Republic of Lithuania's Insurance Supervisory Commission's resolution of 15 March 2005, Lithuania's central bank said in a statement, writes LETA/ELTA.

LITHUANIA: ERGO establishes ERGO Insurance SE

The joint stock insurance company ERGO Lietuva, as well as its companies operating in Latvia and Estonia, have joined the new European company ERGO Insurance SE; therefore, the Board of the Bank of Lithuania terminated the insurance activities license of ADB ERGO Lietuva, the Bank of Lithuania said in a statement, writes LETA/ELTA.

LITHUANIA: Insurance market grows by 13.4% in January

Lithuania's insurance market went up by 13.4% in January 2013 as compared to previous year's corresponding month, Lithuanian business portal Verslo Zinios reports on February 20, 2013, writes LETA/ELTA.

LITHUANIANS are more satisfied with insurance services, than Latvians and Estonians

According to the study done by the independent research company EPSI Baltic in 2012, the satisfaction of Estonian (+3 points) and Lithuanian (+2.7 points) respondents with their insurance companies increased this year. Same time, the evaluations of Latvian inhabitants almost did not change this year in comparison to results of 2011.

LITHUANIA: Insurance market growing albeit life insurance premiums written contracted in volume

Lithuania's insurance market picked up by 1.3% in volume over three quarters of this year - insurance companies registered in the country and branches established in Lithuania by other European Union Member States wrote LTL 1.28 billion of insurance premiums. As in the previous quarters of this year, the extent of growth of written non-life insurance premiums outpaced significantly the volume of written life assurance premiums, which continued to contract.

LITHUANIA: NORDEA set to sell the insurance business to ERGO

NORDEA Life Assurance, a Finland-based provider of life insurance and private pension, part of the financial group NORDEA, is planning to sell its insurance business in Lithuania to the Germany-based insurance group ERGO Versicherungsgruppe.