STATISTICS: Lithuanian market exceeded EUR 1 billion at the end of September

29 November 2023 — Andrei VICTOR
STATISTICS: Lithuanian market exceeded EUR 1 billion at the end of September

The Lithuania insurance market totaled EUR 1.07 billion at end-September 2023, up by 18.6% 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 474.7 million, up by 22.2% y-o-y.


The life insurance line of business expanded by 5.3% y-o-y to EUR 260 million due to the 21% increase generated by the index-linked and unit-linked products, while the health policies related to life insurers decreased from EUR 34.3 million to EUR 1.5 million.

At the same time, Lithuanian non-life insurers posted a 23.5% y-o-y increase in 3Q2023 GWP to EUR 814 million due to the double-digit growth rates reported on main subclasses as share in total GWP: Motor TPL (19%), MoD (23%), property (29%) and medical expenses (>31%).

The largest life insurer in the country is Compensa Life Insurance filialas (23.8% market share), while Lietuvos draudimas (29.8%) reported the largest GWP amount on NL segment.


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

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