Largest Lithuanian insurance company Lietuvos Draudimas earned LTL 17.2
million (EUR 4.9 million) in pre-tax profit while non-life premiums
written amounted to LTL 92.5 million (EUR 26.7 million) in Q1of 2014,
PZU, eastern Europe's biggest insurer, is close to acquiring Lithuanian
rival Lietuvos draudimas from British group RSA in a deal valued at
around 100 million euros ($139 million), sources with knowledge of the
matter said on Monday. Last month Lithuanian media reports said that the
PZU, the Polish state-controlled group, was bidding in competition with
Austria's Vienna Insurance Group but PZU offered better conditions.
The largest insurer of the Central and Eastern Europe, the Polish company PZU, and the Austrian group VIENNA Insurance Group are the main competitors in the race for acquisition of DRAUDIMAS Lietuva, the top insurer in Lithuania, in a deal estimated at around EUR 100 million, informs REUTERS, quoting local press.
A study by non-life insurance company BTA revealed that each year thefts
account for 2% of all CASCO (full-coverage car insurance) insured
events in Lithuania. According to the data of the Police Department,
3,166 thefts were registered in Lithuania in 2013, or by 7% less
year-on-year, informs LETA/ELTA.
Lithuanian insurance market increased to EUR 563 million (LTL 1.95 billion) in 2013 from the previous year, as reported by the Bank of Lithuania. Non-life insurance accounted for 68% of all market, increasing by 8.7% to EUR 382 million (LTL 1.32 billion). The number of policyholders increased by 4% to around 5.25 million, due to the 4% increase in the non-life insurance segment to around 5.2 million.
The Lithuanian Cabinet approved on February 12th, a loan of EUR 2.9 million for the state-owned housing mortgage insurance company, BUSTO PASKOLU Draudimas. The loan is necessary for helping the insurer to fulfill its obligations and continue to pay claims, informs LETA/ELTA.
A recent survey made by the non-life insurer BTA showed that Lithuanian citizens are mostly interested in the accident insurance products, perceived by about a third of the respondents as providing the highest sense of security. The following top choices expressed were health insurance, property and Motor Hull insurance.
Insurance market growth strengthened even more this year and life insurance segment was characterized by the largest volume of premiums written in six years, according to the January-September 2013 market data, recently published by the Bank of Lithuania.
In the first half-year the insurance market grew by almost one tenth — insurers registered in Lithuania and local branches of insurance companies from other European Union member states written LTL 940.1 million (or EUR 242 million) in premiums - 9.9% more than in the same period last year.
Insurance payments arising from the recent storms that hit some parts of
Lithuania is expected to total at least 1 - 1.5 million Lithuanian
litas (USD 385,514 - USD 578,271), Lithuanian news website Vz.lt
According to the Baltic communication Club 625 reported, Lithuania
Central Bank data show that 1-5 parts of this legislation Insurance
industry (including branches of foreign insurance companies in
elevation) written premium income of 7.82786 billion cubic special, an
increase of 10.6%.
Regardless of the age or driving experience, more than half of
Lithuania's drivers believe that education of driving culture would
improve traffic safety more than stricter penalties for violations of
road traffic rules (KET) or greater number of patrol officers, says
country's largest insurance company Lietuvos Draudimas after conducting
the online pole. 10,000 of respondents participated in the survey,
12-15 September 2018 Odessa, Ukraine Organizer: Centre of business strategies "Perspektiva" with the support of the League of Insurance Organizations of Ukraine Media Partner: XPRIMM Publications For details:www.cbs.org.ua
September 20-21, 2018 Sheraton Palace Hotel, Moscow, Russian Federation Organizer: Russian National Reinsurance Company With the support of: Central Bank of Russian Federation and All-Russian Insurance Association Media Partner: XPRIMM Publications For details:https://en.rnrc.ru/partners/national-reinsurers-summit/