STATISTICS: Lithuanian insurers posted double-digit increase in 9 months aggregate GWP

10 November 2022 — Andrei Victor
The insurance market of Lithuania totaled EUR 905.83 million at end-September 2022, up by 19.14% y-o-y, according to the quarterly market figures published on the Central Bank's website. During the analyzed period, Lithuanian insurers paid claims and indemnities worth EUR 501.22 million, up by 28% y-o-y.

The life insurance line of business expanded by 8.13% y-o-y to EUR 247.02 million due to the 11.36% increase generated by the index-linked and unit-linked products.

At the same time, Lithuanian non-life insurers posted a 23.87% y-o-y increase in January-September 2022 GWP to EUR 658.81 million due to the double-digit growth rates reported on main subclasses as shares in total GWP: Motor TPL (20.85%), MoD (20.89%), property (26.28%) and medical expenses (49.69%).

The largest life insurer in the country is Swedbank Life Insurance filialas (22.31% market share), while Lietuvos draudimas (28.95%) reported the largest GWP amount on general insurance segment.

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

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