Lithuania
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.
21 February 2019LITHUANIA: Lithuania's credit rating affirmed at A- with a positive outlook
In February, 2019 the international credit rating agency FITCH Ratings, based on the country's sound public finances and strong economic situation, affirmed Lithuania's long-term credit rating at A- with a positive outlook, as the Ministry of Finance of the Republic of Lithuania announced.
14 February 2019STATISTICS: BALTICS, 2008-2017 timeline: evolution of the regional consolidated results is in line with the CEE average
The Baltic countries - Estonia, Latvia and Lithuania -, have recorded between 2008-2017 a trend similar to the other CEE markets. The same main pattern can be distinguished, splitting the evolution of the market in three periods: decline (2008-2010), recovery (2010-2013) and growth (2013-2017).
14 February 2019LITHUANIA: Lidl has insured all employees with additional private health insurance
9 January 2019LITHUANIA: decreasing prices for all types of transport insurance
In 3Q2018, prices of compulsory MTPL insurance scaled down, while the entire insurance market grew by 13%. Having come into force in October, significant amendments have strengthened consumer protection within the insurance market, Bank of Lithuania stated in a press release.
13 December 2018STATISTICS: LITHUANIA, 3Q: Insurers' GWP increased by EUR 75 million, fueled especially by the two motor classes
Lithuania's insurance market increased by almost 13% y-o-y totaling EUR 655 million at the end of September 2018, according to the Lietuvos bankas's 3Q figures.
29 November 2018SEB to merge its three Baltic life units
SEB - one of the largest life insurers in Baltic region announced is planning to merge its units in the Baltic States, "into one legal entity to further improve our operational efficiency and deliver improved customer services. The merger will not affect our services to the customers".
8 November 2018STATISTICS: LITHUANIA 1H: motor lines posted the largest GWP increases
Lithuanian insurers reported GWP of EUR 440 million in 1H 2018, 13.4% more y-o-y, according to the half-year figures published on the Central Bank's website.
30 August 2018Tax, pension system reforms adopted by Lithuanian parliament
4 July 2018STATISTICS: LITHUANIA, 1Q2018: Sustainable and robust growth of insurance market continues
In the first quarter of this year, the Lithuanian insurance market grew by 18.3%, the premiums amounted to almost EUR 220 million, and claims paid - EUR 115 million, according to the figures published by the Bank of Lithuania.
21 June 2018The 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 2017
