The joint stock insurance company ERGO Lietuva, as well as its companies
operating in Latvia and Estonia, have joined the new European company
ERGO Insurance SE; therefore, the Board of the Bank of Lithuania
terminated the insurance activities license of ADB ERGO Lietuva, the
Bank of Lithuania said in a statement, writes LETA/ELTA.
Lithuania's insurance market went up by 13.4% in January 2013 as
compared to previous year's corresponding month, Lithuanian business
portal Verslo Zinios reports on February 20, 2013, writes LETA/ELTA.
After shrinking in the first quarters of 2012, Lithuania's life insurance sector gained momentum and recorded an annual increase of 2.5% towards the end of the year. Last year the entire insurance market grew by 5.2%.
According to the study done by the independent research company EPSI
Baltic in 2012, the satisfaction of Estonian (+3 points) and Lithuanian
(+2.7 points) respondents with their insurance companies increased this
year. Same time, the evaluations of Latvian inhabitants almost did not
change this year in comparison to results of 2011.
Lithuania's insurance market picked up by 1.3% in volume over three quarters of this year - insurance companies registered in the country and branches established in Lithuania by other European Union Member States wrote LTL 1.28 billion of insurance premiums. As in the previous quarters of this year, the extent of growth of written non-life insurance premiums outpaced significantly the volume of written life assurance premiums, which continued to contract.
NORDEA Life Assurance, a Finland-based provider of life insurance and private pension, part of the financial group NORDEA, is planning to sell its insurance business in Lithuania to the Germany-based insurance group ERGO Versicherungsgruppe.
Gross written insurance premiums in Lithuania dropped by 1.2% in the first six months, led by an 11.2% decrease in life insurance policies, according to the financial figures recently published by the Central Bank of the Republic of Lithuania. The premiums reached LTL 855.3 million (EUR 247.7 million), with non-life premiums accounting for 70.2% and life policies for 29.8% of the total, show the statistics published by the central bank. A year earlier, the proportion was 60.9% against 33.1%.
The number of accidents involving Belarusians in Lithuania is growing
every year. For example, there were 58 accidents by the fault of
Belarusians in 2007, while in 2008 - 72, in 2009 - 81, in 2010 - 130 and
in 2011 - 155. "It was when our green card was active and our insurance
companies paid for an accident committed by Belarusians in Lithuania,"
informed the Belarusian Transport Insurance Bureau.
According to the data of the Bank of Lithuania, the amount of insurance premiums written in the domestic insurance market over the first quarter of 2012 made up LTL 397.7 million, which was 0.2 per cent less than over the same period last year. In total, 1.09 million of insurance contracts were concluded, which was 4.0 per cent more than in the first quarter of 2011. Over the first three months of the year, insurers paid claims for the amount of LTL 255 million or 1.8 per cent less than a year ago.
AB Lietuvos Dujos shareholders at their Annual General Meeting of 23 April 2012 approved the Company's activity results of the year 2011. Compared to 2010, the consolidated audited sales revenue of AB Lietuvos Dujos increased by 5.3% and amounted to LTL 1,840.0 million* (2010: LTL 1,746.8 million). The revenue growth was determined by the higher revenue from the supply activity. The revenue from the transportation activity remained at the level of 2010, of which the revenue from gas transit showed a significant increase. The consolidated pre-tax profit of AB Lietuvos Dujos decreased from LTL 148.9 million in 2010 to LTL 104.3 million in 2011.
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