The Lithuanian insurance market totaled EUR 1.17 billion at end-September 2024, up by 9.57% y-o-y, according to the quarterly figures published on the Central Bank's website. During the analyzed period, Lithuanian insurers paid claims from insurance losses worth EUR 526 million, up by 10.8% y-o-y.

The life insurance line of business expanded by 3.76% y-o-y to EUR 269.9 million mostly due to traction exercised by the index-linked and unit-linked products.

At the same time, Lithuanian non-life insurers posted a 11.4% y-o-y increase in 3Q2024 GWP to EUR 907.2 million due to the double-digit growth rates reported on main subclasses as share in total GWP: MoD (13.6%), property (15.74%) and medical expenses (18.5%). Paid claims for non-life insurance increased by 11.25%, to EUR 508 million, mostly because of the increasing value of the motor insurance claims.

The largest life insurer in the country is Compensa Life Insurance filialas (23 % market share), while Lietuvos draudimas (29.5%) reported the largest GWP amount on NL segment.

Access XPRIMM Database and download the latest Lithuanian insurance market statistics.