Monday , October 25 2021

The insurance market fell by 13%



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The Lithuanian insurance market, including subsidiaries of a foreign company, amounted to 654,811 million litas in the nine months of this year under the insurance contract. Eur 12.9% more than last year's drought (EUR 580.059 million).

According to the Bank of Lithuania, the non-life insurance market increased by 14.5% to 475.33 million. Eur, life insurance of 8.8%, to 179.481 million. Eur. For non-life insurance, 72.6% of all paid debts are still paid (71.6% last year), life insurance (27.4%) (28.4% last year).

fell to 5,405 million insurance contracts, of which 5,282 million There were non-life insurance policies and 122,800 life insurance contracts. At the end of September, 4.572 million are in effect. There is no life and 1.05 million life insurance contracts.

In the non-life insurance market, the most popular liability insurance for civilian vehicles, vehicle insurance and property insurance in combination with three insurance accounts for 80.7% of the total non-life insurance market.

The amount of insured insurance was increased by 20.6% to 189.68 million. Eur make up 39.9% of non-life insurance premiums.

Land vehicles, except motor vehicles, casco insurance amounted to 111,795 million. The Eur insurance premium (14.3% more than last year's drought) accounted for 23.5% of non-life insurance.

The amount of property insurance, including vehicle insurance, increased by 3.9% to 82,304 million. Eur make up 17.3% of non-life insurance premiums.

Medical premiums increased by 24.7% to 31,955 million. Eur (6.7% of the non-life insurance premium), insurance premiums increased by 9.7% to 17.187 million. Eur (3.6% of non-life insurance premiums), the general liability insurance premium amounted to 0.8% to 16.482 million. Eur (non-life insurance premium by 3.5%).

More than half of the life insurance business committed to life insurance of 108.23 million. Eur or 60.3% of all payments. The payment of the shareholding rights amounted to 36,132 million. Eur (20.1% market share), health insurance 23.179 million. Eur (12.9%), second life insurance premium of 11.939 million. Eur (6.7%).

Investment life insurance premium fell by 13.6%, while insurance with right to profit ratio decreased by 4.4%. Health insurance premiums increased by 8.2%, life insurance premiums by 14.1%.

The non-life insurance company accounted for 234.374 million litas. The amount of compensation paid by the life insurance company amounted to LTL 10,842 million. Eur, 4.9% and 9.1% more than in 2017 in the early hours of the month.

Buyers of life insurance companies also took 29,721 million. Eur at the end of the insurance contract (10.8% less than in the three quarters of 2017) and 54.759 million. Eur in case of termination of the contract (2.4% less).

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