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Lithuania Insurance Report 2013 - Product Image

Lithuania Insurance Report 2013

  • ID: 2299557
  • November 2012
  • Region: Lithuania
  • 79 pages
  • Business Monitor International

FEATURED COMPANIES

  • BTA Insurance Company SE
  • ERGO
  • Gjensidige Baltic
  • Lietuvos Draudimas
  • MetLife ALICO
  • Regional Company Profiles
  • MORE

Key Insights And Key Risks

2012 will not be seen as a vintage year for Lithuania’s small and crowded insurance sector. Volatility in financial markets has sharply curtailed savers’ appetite for unit-linked insurance products, demand for which had been growing quite rapidly in early 2011. This is, in any case, in a country where the relatively few people who have the money and inclination to use life insurance were spending only modest amounts per capita. In part because of the maturity of policies that had been issued in early 2002, payments by the life companies to their customers have soared. Nevertheless, we stress that the three companies that account for about 60% of all activity in the life segment, SEB Life and Pensions International,
Swedbank Life Insurance and Mandatum Life, have financial strength, brand strength, diverse distribution channels and a firm commitment to the market.

By contrast, developments in the non-life segment have been favourable. Thanks to growth in health insurance and CASCO, premiums are growing again. For now, the price war in motor-related lines appears to have stopped. Insurers are benefiting from a firming in rates. This READ MORE >

FEATURED COMPANIES

  • BTA Insurance Company SE
  • ERGO
  • Gjensidige Baltic
  • Lietuvos Draudimas
  • MetLife ALICO
  • Regional Company Profiles
  • MORE

Executive Summary 5
Table: Lithuania’s Total Premiums 2010-2017 5

Key Insights And Key Risks 5

SWOT Analysis 7

Lithuania Insurance Industry SWOT 7

Lithuania Political SWOT 8

Lithuania Economic SWOT 8

Lithuania Business Environment SWOT 9

Life Sector Overview 10

Central And Eastern Europe Life Sector Overview 10
Table: Central And Eastern European Life Premiums, 2010-2017 (US$mn) 10

Lithuania Life Sector Update 12

Life Industry Forecast Scenario 14
Table: Lithuania’s Total Life Premiums, 2010-2017 14

Growth Drivers And Risk Management Projections: Population 15
Table: Insurance Key Drivers, Demographics 2010-2017 15

Non-Life Sector Overview 17

Central And Eastern Europe Non-Life Sector Overview 17
Table: Central And Eastern European Non-Life Premiums, 2010-2017 (US$mn) 17

Lithuania Non-Life Sector Update 20

Non-Life Industry Forecast Scenario 22
Table: Lithuania’s Total Non-Life Premiums, 2010-2017 22

Growth Drivers And Risk Management Projections 23

Macroeconomic Outlook 23
Table: Lithuania – Economic Activity, 2011-2016 26

Political Stability Outlook 27

Healthcare 29

Epidemiology 29
Table: Insurance Key Drivers, Disease Adjusted Life Years, 2010-2017 31

Insurance Risk/Reward Ratings 33
Table: Lithuania’s Insurance Risk/Reward Ratings 33
Table: Central And Eastern Europe Insurance Risk/Reward Ratings 34

Competitive Landscape 35

Major Players In Lithuania’s Insurance Sector 36
Table: Lithuania’s Non-Life Segment – Gross Written Premiums, January-August 2010-2011 (LTL'000) 36
Table: Lithuania’s Life Segment – Gross Written Premiums, January-August 2010-2011 (LTL'000) 38

Regional Company Profiles 39

BTA Insurance Company SE 39

ERGO 41

Gjensidige Baltic 44

Lietuvos Draudimas 46

MetLife ALICO 48

Powszechny Zaklad Ubezpieczen (PZU) 51

RSA 55

Sampo Group (P&C and Mandatum Life) 58

SEB Life & Pension International 61

Seesam 63

Swedbank Life Insurance 65

Vienna Insurance Group 67

Demographic Outlook 71
Table: Lithuania's Population By Age Group, 1990-2020 ('000) 72
Table: Lithuania's Population By Age Group, 1990-2020 (% of total) 73
Table: Lithuania's Key Population Ratios, 1990-2020 74
Table: Lithuania's Rural And Urban Population, 1990-2020 74

BMI Methodology 75

Insurance Risk/Reward Ratings 76
Table: Insurance Risk/Reward Indicators And Rationale 77
Table: Weighting Of Indicators 78

Regional Company Profiles
BTA Insurance Company SE
ERGO
Gjensidige Baltic
Lietuvos Draudimas
MetLife ALICO
Powszechny Zaklad Ubezpieczen (PZU)
RSA
Sampo Group (P&C and Mandatum Life)
SEB Life & Pension International
Seesam
Swedbank Life Insurance
Vienna Insurance Group
Vienna Insurance Group

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