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Lithuania Insurance Report Q2 2016

  • March 2016
  • -
  • Business Monitor International
  • -
  • 51 pages

Includes 3 FREE quarterly updates

BMI View: Lithuania is one of the smaller European insurance markets we monitor, however the sector hasbeen the centre of considerable activity over recent quarters, as multinational firms, including those fromneighbouring Scandinavian and Eastern European countries, have taken advantage of opportunities toinvest. A relatively bullish outlook for Lithuania's economy should lead to further interest from potentialnew entrants, as household incomes rise and consumer and corporate spending increase. While the marketis increasingly consolidated, there remain a number of smaller indigenous providers who may present awindow for multinationals to gain a foothold in the market. Those already present will be looking to growtheir market share through new acquisitions, allowing them to leverage their already well-developeddistribution networks.

Key Updates And Forecasts

- We maintain a bullish outlook with regard to insurance premiums growth in Lithuania over the next fewyears, with both the life and non-life sectors well-placed to benefit from steady growth in GDP andhousehold and corporate spending. However, density will remain low by European standards in bothmarkets, with gross life premiums measuring around USD97 per capita in 2020 and non-life premiumstotalling USD189 per capita.

- The non-life market will be better performer of the two sectors, with premiums set to grow by 3.0% in2016 and by 8.4% a year on average over the remainder of the forecast period to reach USD528mn in2020.

Table Of Contents

Lithuania Insurance Report Q2 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Lithuania 2013-2020) 5
SWOT 7
Industry Forecast 9
Life Premiums Forecast 9
Table: Life Premiums (Lithuania 2013-2020) 12
Table: Life Insurance Claims (Lithuania 2008-2015) 12
Non-Life Premiums Forecast 13
Table: Non-Life Premiums (Lithuania 2013-2020) 16
Table: Non-Life Insurance Claims (Lithuania 2009-2015) 18
Non-Life Sub-Sector Forecast 18
Table: Non-Life Insurance Premiums by Product Line (Lithuania 2013-2020) 26
Insurance Risk/Reward Index 27
Emerging Europe Risk/Reward Index 27
Table: Emerging Europe Insurance Risk/Reward Index - Q216 28
Market Overview 29
Life Market Overview 29
The Product Offering 29
The Competitive Landscape 29
Table: Lithuania Life Insurance Market (USDmn) 2008-2013 31
Non Life Market Overview 33
The Product Offering 33
The Competitive Landscape 33
Table: Lithuania Non-Life Insurance Market (USDmn) 2008-2013 35
Company Profile 37
Gjensidige Baltic 37
Lietuvos Draudimas 39
SEB Life and Pensions International 41
Swedbank Life Insurance 43
Methodology 45
Industry Forecast Methodology 45
Risk/Reward Index Methodology 48
Table: Indicators 50
Table: Weighting of Indicators 51

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