Lithuania

Location:
Eastern Europe, bordering the Baltic Sea, between Latvia and Russia

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

Natural hazards:
NA


Currency: Litas (LTL)

1 EUR = 3.45228 litas, LTL (fixed)

Sources:
Bank of Lithuania - Starting January, 1st, 2012, the Bank of Lithuania took over the functions of the liquidated Insurance Supervisory Commission (DPK).
Lithuanian Insurers Association (LDA)

Insurance statistics

1H2017Market Portfolioxlsx
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FY2016
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FY2015
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FY2014
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FY2014Market Portfolio (revised data)xlsx
FY2014
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FY2014Market Portfolioxlsx
3Q2014
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3Q2014Market Portfolioxlsx
1H2014Insurance market overview pdf
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1Q2014Market Portfolioxlsx
1Q2014Insurance Companies Rankingsxlsx
FY2013Insurance market overview pdf
FY2013
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3Q2013
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3Q2013Market Portfolioxlsx
1H2013Insurance market overview pdf
1H2013Market Portfolioxlsx
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1Q2013Insurance Companies Rankingsxlsx
1Q2013Market Portfolioxlsx
FY2012Insurance market overview pdf
FY2012
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FY2012
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3Q2012Insurance companies rankings xlsx
3Q2012Market portfolioxlsx
1H2012Insurance market overview pdf
1H2012Market portfolioxlsx
1H2012Insurance companies rankingsxlsx
1Q2012Market Portfolioxlsx
1Q2012Insurance Companies Rankingsxlsx
FY2011Insurance market overview pdf
FY2011Market Portfolioxlsx
FY2011Insurance Companies Rankingsxlsx
3Q2011Market Portfolioxlsx
3Q2011Insurance Companies Rankingsxlsx
1H2011Insurance market overviewpdf
1H2011Market portfolio and rankingsxlsx
2010
Insurance market overviewpdf
2010Market portfolio and rankingsxlsx
1H2009
Lithuanian insurance market overviewpdf
1H2009 Market portfolio xls
1H2009 Life insurance rankingsxls
1H2009
Non-Life insurance rankings xls
2009Lithuanian insurance market overview pdf
2009Market portfolioxls
2009Life insurance rankingsxls
2009Non-Life insurance rankingsxls
1H2010Lithuanian insurance market overviewpdf
1H2010Market portfolioxls
1H2010Life insurance rankings (total & main lines)xls
1H2010Non-Life insurance rankings (total & main lines)xls


Lithuania FY2017 Insurance Companies Rankings

Lithuania FY2017 Market Portfolio

See all statistics

ERGO's insurance operations in Baltics grow 14% in 2015

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.

LITHUANIA, 2014: The gross value added per person employed amounted to EUR 24 975

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.

STATISTICS: Bank of Lithuania, 1H2015: Insurance market reaches record volumes, although the growth rates of the insurance branches vary

The insurance market recorded a year-on-year 6.4% increase over the first half of this year in terms of premiums written, with its volumes reaching record heights - EUR 312.3 million. "Growth in life insurance was less robust than a year ago, but this branch remains the main engine of growth within the entire insurance market. The non-life insurance market boosted as well, although the most numerous in terms of contracts concluded, the motor third party liability (MTPL) insurance class did not avoid a decline", says Mindaugas SALCIUS, Deputy Director of the Prudential Supervision Department of the Supervision Service at the Bank of Lithuania.

Bank of Lithuania issues new license to COMPENSA VIG for non-life insurance

The Board of the Bank of Lithuania decided to issue an insurance business license for the private limited liability insurance undertaking COMPENSA Vienna Insurance Group, UADB in the process of foundation, which entitles to engage in the activities of insurance classes within the non-life insurance branch and of compulsory insurance, states a press release of the Lithuanian central bank.

Bank of Lithuania: Profits of insurers boosted by more than a third in 2014

In 2014, insurance undertakings registered in Lithuania, according to unaudited data, earned EUR 24.1 million (LTL 83.2 million) of profits, a year-on-year increase of 36$. The highest profits were generated by the insurance activity; however, the overall result was significantly enhanced by profits from the investing activity.  "The result of the previous year is almost record high - higher profits were only earned in 2007. The results varied significantly across insurance branches though - the return on the insurance activity within non-life insurance was almost 6 times lower than that of life assurance undertakings," says Mindaugas SALCIUS, Deputy Director of the Prudential Supervision Department of the Supervision Service at the Bank of Lithuania.  

LITHUANIA: ERGO cooperate with Nextury Ventures in the creation of innovation in the insurance field

"ERGO Insurance" signed a long-term cooperation agreement with the Venture Capital Fund Nextury Ventures in Lithuania, which invests in business start-ups and high-potential business ideas. With the help of the Nextury Ventures team, ERGO will search for ideas, which could turn into innovation in the insurance field. According to ERGO representatives, the decision to use start-ups were determined by a general need for fresh winds of change and progress in the insurance business in Lithuania.

LITHUANIA: COMPENSA Life showed steady growth in 2014

The results of the Lithuanian Branch of the life insurance company COMPENSA Life Vienna Insurance Group SE have been steadily growing for three years consecutively. Compared to 2013, the total sum of underwritten life insurance and health insurance premiums increased by 35% and amounted to EUR 24 million (LTL 83 million).