During January-March 2023, the Lithuanian insurance market grew by 20.50% y-o-y to EUR 351.92 million, while the value of payments expanded by 24.58% y-o-y to EUR 153.77 million, according to the market figures published by the Bank of Lithuania. It is worth mentioning that the value of payments includes only claims paid for insurance losses.

The amount of non-life GWP increased by more than 25% y-o-y to EUR 265.45 million, while the life insurance market grew by 6.87% to EUR 86.47 million.

According to the Central Bank's statistics, COMPENSA Life Insurance (23.90% market share) is the largest life insurer in the country as GWP volume ahead of the former market leader - SWEDBANK Life Insurance (21.32%), while Lietuvos draudimas (~EUR 74 million) is the top non-life insurer out of 13 market players.

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