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Insurance market in Lithuania grew to EUR 160 mln in Q1
BC, Vilnius, 09.05.2016.
Print version
Print versionLithuania's insurance market, as measured by premiums written, grew to 159.206 million euros in the first quarter of the year 2016, up 5.6% from 150.723 million euros in the same period last year, informs LETA, according to figures from the Bank of Lithuania.
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The non-life insurance segment increased by 10.2% to 110.268 million euros, but the life insurance segment decreased by 3.4% to 48.937 million euros.
Non-life insurance accounted for 69.3% of all premiums written in the first quarter, up from 66.4% a year ago. Life insurance's share of the total premiums fell to 30.7%, from 33.6%.
Motor third party liability insurance, comprehensive auto insurance (CASCO) and property insurance between them accounted for 76.5% of the overall non-life insurance market. Investment life insurance accounted for 55.7% of the total life insurance premiums written.
The Bank of Lithuania, which supervises the insurance market, forecasts that the market will grow by 6-7% this year.
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