STATISTICS: The Lithuanian insurance market reported robust growth at the end of March

4 July 2019 — Andrei Victor
In the first quarter of this year, the Lithuanian insurance market grew by 6% y-o-y to almost EUR 232 million, while the value of payments expanded by more than 8% to EUR 125 million, according to figures published by the Bank of Lithuania.

The amount of non-life GWP expanded by 5.9% to EUR 169 million, while the life insurance market grew by 6.4% to EUR 63 million.

In terms of claims, about 73% of total claims paid were equal to EUR 80.5 million (14% more y-o-y), and comprised of non-life insurance claims paid. Over the first quarter of this year, EUR 33 million was paid out in life insurance, a y-o-y decrease of 4.7%.

According to the Central Bank's statistics, Swedbank Life Insurance (23.15% market share), Aviva Lietuva (19%) and Compensa Life Insurance (18.16%) were the top 3 life insurers in the country for GWP.

Of 14 non-life insurers active in the country, the largest three as GWP were Lietuvos draudimas (~EUR 46.8 million), BTA Insurance Company (EUR 27.7 million) and ERGO (EUR 23 million).

Access and download the 1Q2019 Lithuanian insurance market statistics.

Lithuania 1Q2019 Market portfolio:
  • Gross written premiums
  • Paid claims
  • Growth rates
Lithuania 1Q2019 Life & non-life market rankings:
  • Gross written premiums
  • Paid claims

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