Lithuania
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.
13 February 2014BTA, 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.
15 January 2014LITHUANIA, 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.
14 November 2013LITHUANIA: In H1 the market grew by 10%; a faster than estimated annual growth rate is expected for the end of year
In the first half-year the insurance market grew by almost one tenth — insurers registered in Lithuania and local branches of insurance companies from other European Union member states written LTL 940.1 million (or EUR 242 million) in premiums - 9.9% more than in the same period last year.
5 September 2013LITHUANIA: Insurance payments from recent storms expected to top USD 578,000
Insurance payments arising from the recent storms that hit some parts of
Lithuania is expected to total at least 1 - 1.5 million Lithuanian
litas (USD 385,514 - USD 578,271), Lithuanian news website Vz.lt
reported.
19 August 2013LITHUANIA: Lietuvos Draudimas incurs loss due to stormy weather
The biggest insurance company in Lithuania Lietuvos Draudimas estimated
that, due to the stormy weather in Lithuania, the company lost LTL 700
thousand (EUR 202 thousand), reported LETA/ELTA.
13 August 2013LITHUANIA: 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%.
1 July 2013LITHUANIA: 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.
1 July 2013LITHUANIA, 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.
20 June 2013MakoLab 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.
28 May 2013LITHUANIA: 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.
8 March 2013LITHUANIA: 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.
8 March 2013LITHUANIA: 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.
21 February 2013LITHUANIA, FY2012: Spurt in life insurance raised the entire market
After shrinking in the first quarters of 2012, Lithuania's life insurance sector gained momentum and recorded an annual increase of 2.5% towards the end of the year. Last year the entire insurance market grew by 5.2%.
14 February 2013LITHUANIAN insurance market to grow at least 6% in 2013
Lithuanian insurers can expect the non-life sector to grow by up to 7%
this year owing to the increased spending power of its citizens, RSA
said today.
9 January 2013LITHUANIANS 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.
7 November 2012LITHUANIA: 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.
2 November 2012LITHUANIA: 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.
25 September 2012LITHUANIA: GWP dropped 1.2% in first half year
Gross written insurance premiums in Lithuania dropped by 1.2% in the first six months, led by an 11.2% decrease in life insurance policies, according to the financial figures recently published by the Central Bank of the Republic of Lithuania. The premiums reached LTL 855.3 million (EUR 247.7 million), with non-life premiums accounting for 70.2% and life policies for 29.8% of the total, show the statistics published by the central bank. A year earlier, the proportion was 60.9% against 33.1%.
27 August 2012LITHUANIA: Lithuanian insurance market still shrinking, but number of contracts increased in H1
According to the data of Bank of Lithuania, in the first half of the year 2012 insurance contracts for LTL 855.3 million (EUR 247.7 million) were signed, 1.2% less than year-on-year.
13 August 2012
