During Q1 2022, the Lithuanian insurance market grew by 17.13% y-o-y to EUR 292.02 million, while the value of payments expanded by more than 38% y-o-y to EUR 164.22 million, according to the market figures published by the Bank of Lithuania.

The amount of non-life GWP increased by more than 21% y-o-y, while the life insurance market grew by 17.13% to almost EUR 81 million.

According to the Central Bank's statistics, SWEDBANK Life Insurance (22.52% market share) is the largest life insurer in the country as GWP volume, while Lietuvos draudimas (~EUR 58.84 million) is the top non-life insurer out of 14 market players.