STATISTICS: Lithuania insurance market increased by almost one fifth during the first half year

13 September 2023 — Andrei VICTOR
STATISTICS: Lithuania insurance market increased by almost one fifth during the first half year

The insurance market of Lithuania totaled EUR 712.6 million at end-June 2023, up by 19.1% y-o-y, according to the quarterly market figures published on the Central Bank's website. During the analyzed period, Lithuanian insurers paid claims for insurance losses worth EUR 301.2 million, up by 21.7% y-o-y.

The amount of non-life GWP increased by 24.3% y-o-y to EUR 539.8 million, while the life insurance market grew by 5.5% to EUR 172.8 million.

According to the Central Bank's statistics, Compensa Life Insurance (23.7% market share) is the largest life insurer in the country as GWP volume ahead of Swedbank Life Insurance (the former leader, 21.4% market share), and Allianz Lietuva (ex. Aviva Lietuva, 17.8% market share), while Lietuvos draudimas (~EUR 155.3 million, 28.8%market share) is the top non-life insurer out of 13 market players.

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

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