Mobile operator Telia Lithuania has started offering a travel insurance service for customers taking trips to foreign countries. The offer was launched in cooperation with insurance company Compensa and insurance broker Edrauda.
Lithuanian insurers reported GWP of EUR 709.8 million in 2016, while growth within the entire insurance market was 10%. The amount of insurance premiums within the non-life insurance sector stood at EUR 463.1 million last year, an increase of 13.2% y-o-y, mostly driven by the motor insurance classes.
Lithuania's insurance market totalled EUR 498 million after 3Q, up by 7.4% y-o-y. Non-life segment grew by 12.6% to EUR 345 million (69.2 of total GWP), while life insurance market was down by 2.6 % to EUR 153 million, according to the Lietuvos bankas's 3Q figures.
Lithuania's foreign direct investments in Estonia shrank by 58.8% y-o-y
to 89.4 mln euros in the first half of 2016, while investments in Cyprus
soared by 43% to 277.6 mln euros, the Verslo Zinios business daily said
on Friday, writes LETA/BNS. According to the report, Lithuania's
corporate investment grew in vocational, research and technical
operations in Cyprus, mainly business headquarters, while investments in
Estonia declined in financial and insurance operations.
Lithuania's insurance market (including branches of foreign companies), totalled EUR 330.20 million at the end of June 2016, up by 5.74% y-o-y, according to data published by the Central Bank of Lithuania. Non-life insurance market grew by 11.85% to EUR 230.08 million (69.68 of total GWP), while life insurance market lost 6.05 % to EUR 100.12 million (30.32% of total market).
Mobile operator Bite Lithuania has introduced insurance for mobile handset screens. According to a poll carried out by the operator, customers usually don't use handset screen repair services due to the high price. The operator offers the insurance to all customers buying handsets in its shops. The service is free during the first month and then costs EUR 1.99 per month. Subscribers choosing some new tariffs from the operator are offered the insurance free for three to 12 months.
Gjensidige non-life insurer is merging its companies in the Baltic
States and plans to finish the process by this fall, informs LETA. After
the merger is completed, Gjensidige Group in the Baltics will be
operating as Gjensidige insurance company with branches in Latvia and
The total value of insurance contracts of ERGO in the Baltic countries in 2015 was 186 million euros, almost 14% more than in 2014; the insurer's net income for the period totaled 4.3 million euros, informs LETA/BNS.
In 2015, Lithuania's insurance market grew by 7.4% in terms of GWP, amounting to EUR 645.1 million. The result was in line with the Bank of Lithuania projections, according to which "the development of the insurance market should amount to 6-7% this year."
Lithuania's insurance market, in terms of premiums written over the three quarters of 2015, grew 6.9%, to amount to EUR 463.5 million. Life assurance premiums continue growing fast, although the development of this insurance branch is slower than last year. The non-life insurance branch recorded sustainable growth.
Statistics Lithuania informs that, after the revision of gross value added and employment indicators, labour productivity estimates were recalculated. In 2014, the value added per hour actually worked in the whole economy amounted to, on average, EUR 13.62 at current prices, which is by EUR 0.31 more than in 2013. The gross value added per person employed amounted to EUR 24 975.
6 June 2018 Saint Petersburg, Russian Federation Organizer: All-Russian Insurance Association Co-organizer: Informational Group "Insurance Today" Media Partner: XPRIMM Publications For details:www.insuranceconference.ru