Financial Services, Insurance, Lithuania
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Friday, 26.04.2024, 16:31
Lithuania’s insurance market increased by 7% in 2015
BC, Vilnius, 11.02.2016.
Print version
Print versionLithuania’s insurance market, which grew by more than 7% in 2015, should maintain a similar growth pace this year, supported by the recovery of the private sector, the central Bank of Lithuania forecasts, cites LETA/BNS.
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“The growth of insurance market is now more driven by the recovering private sector. The non-life insurance segment, which grew at a fast pace last year, will expand at a more moderate rate this year due to slower growth in transport insurance premiums. Meanwhile, the life insurance segment should grow at a similar pace,” Mindaugas Salcius, deputy director of the central bank’s Prudential Supervision Department, said in a press release.
The central bank expects the insurance market to grow by 6 to 7% this year. In particular, the life insurance segment should expand by 9 to 10% and the non-life insurance segment – by 4 to 5%.
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