Lithuania

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Location map
author: OCHA/ ReliefWeb


Location:
- 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
Surface:65,300km2
Population*:2.8million
Pop. density*:42.7people/km2
GDP*:45.1EUR billion
GDP/capita*:16,203.3EUR

European Union:
EU member, since 2004

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


Insurance market portfolio
* 2018 estimates
TOTAL LIFE*:28%
TOTAL NON-LIFE*:72%
Overall Property*:12%
Overall Motor*:45%


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



 


Statistics

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Lithuania 3Q2020 Insurance Companies Rankings

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Lithuania 3Q2020 Market Portfolio


See all statistics

Latest news

Lithuania: market regulator expects a moderate GWP growth in 2021

The Bank of Lithuania expects a moderate growth of the insurance market this year, by 3% to 5%, up to a total EUR 997 million in GWP. While the non-life business is expected to recover from the 2020 fall, life insurance will grow at a slower pace than last year.


LITHUANIA: Central Bank conducted industry checks using secret shopping

This year, the Bank of Lithuania — the single supervisory authority for the whole financial sector in Lithuania, including the insurance market — conducted a mystery shopping exercise to evaluate the practices of certain companies and persons offering training and consultation on savings and investment.
















LITHUANIA: Property insurance disputes rose by 28% in 2018

The number of disputes between insurers and customers has raised mainly due to the low degree of customers' understanding over their insurance products, an analysis over the property insurance market recently published by Bank of Lithuania says.