STATISTICS: Lithuania insurers' 2023 business expanded to almost EUR 1.5 billion

19 March 2024 — Andrei VICTOR
STATISTICS: Lithuania insurers' 2023 business expanded to almost EUR 1.5 billion

During last year, the Lithuanian insurance market grew by 17.22% y-o-y (or by EUR 212 million) to EUR 1.45 billion, while the value of payments expanded by 20.70% y-o-y to EUR 632.47 million, according to the market figures published by the Bank of Lithuania – Lietuvos Bankas.

The amount of non-life GWP increased by 22.12% y-o-y to EUR 1.1 billion, while the life insurance market grew by 4.30% to ~EUR 350 million.

According to the Central Bank's statistics, Compensa Life Insurance (23.48% market share) is the largest life insurer in the country as GWP volume ahead of the former leader - SWEDBANK Life Insurance (21.20% market share), while Lietuvos draudimas (~EUR 330 million, 30.22% market share) is the top non-life insurer out of 13 active market players.

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

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