Location map
author: OCHA/ ReliefWeb

- Eastern Europe, bordering the Baltic Sea;
- Neighbours: Latvia, Poland, Belarus, Russia.

Climate: - transitional, between maritime and continental;
- wet, moderate winters and summers.

Macro indicators
* 2018 estimates
Pop. density*:42.7people/km2
GDP*:45.1EUR billion

European Union:
EU member, since 2004

Currency: Euro
Code: EUR
Since: 2015
- replaced Lithuanian litas (LTL)

Insurance market portfolio
* 2018 estimates
Overall Property*:12%
Overall Motor*:45%

Starting January 1st, 2012, the Bank of Lithuania took over the functions of the liquidated DPK


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.

STATISTICS: Lithuanian market expanded to EUR 350 million in Q1 2023

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.

STATISTICS: Lithuanian insurance market exceeded EUR 1bn at the end of 2021

According to the year-end insurance market figures published by Lithuanian Central Bank, last year the local insurance market grew by 8.9% to EUR 1.04 billion. At the same time, total paid claims exceeded EUR 547 million, up by 9.3% y-o-y. "Last year, one of the engines of growth of the insurance market was the country's growing economy", as the representatives of Lithuanian Central Bank mentioned in a statement.