Boston, MA -- (SBWIRE) -- 06/05/2014 -- Life insurance was the second-largest segment in the Lithuanian insurance industry in 2012, accounting for 32.1% of the industry's total written premiums. The segment's written premium increased at a compound annual growth rate (CAGR) of 1.8%. The segment is expected to post a forecast-period (2012-2017) CAGR of 7.1%. Segment growth was primarily attributed to an increase in the country's ageing population, the rise in disposable income levels and a greater demand for traditional life insurance products, such as individual life. Agencies and bancassurance were the main distribution channels for life insurance products in Lithuania, respectively accounting for 46.0% and 31.0% of the written premium generated through new business in 2012.

Report Highlights

- Life insurance was the second-largest segment in the Lithuanian insurance industry in 2012, accounting for 32.1% of the industry's total written premiums.
- The growth in traditional life insurance products, including individual life, pension, and superannuation life insurance, led to the segment's strong performance.
- Agencies and bancassurance were the most popular distribution channels for life insurance, with agencies accounting for 46.0% of the written premium generated through new business in the segment during the review period. Bancassurance represented 31.0%.
- The Lithuanian life insurance segment is highly consolidated, with the 10 leading insurers representing 99.9% of the segment's written premium in 2012.
- Many life insurers prefer direct marketing due to its cost-effective benefits.

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Report Scope

This report provides a comprehensive analysis of the life insurance segment in Lithuania:

- It provides historical values for the Lithuanian life insurance segment for the report's 2008-2012 review period and projected figures for the 2012-2017 forecast period.
- It offers a detailed analysis of the key categories in the Lithuanian life insurance segment, along with market forecasts until 2017.
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
- It analyses the various distribution channels for life insurance products in Lithuania.
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Lithuania for the life insurance business.
- It provides a detailed analysis of the reinsurance segment in Lithuania and its growth prospects.
- It profiles the top life insurance companies in Lithuania and outlines the key regulations affecting them.

Reasons to Get this Report

- Make strategic business decisions using in depth historic and forecast market data related to the Lithuanian life insurance segment and each category within it

Companies Mentioned in this Report: Swedbank Life Insurance SE, SEB Gyvyb?s draudimas, Aviva Lietuva, Mandatum Life Insurance Baltic SE, Ergo Life Insurance SE, Compensa Life Vienna Insurance Group, PZU Lietuva gyvyb?s draudimas, Bonum Publicum, Amplico Life filialas, Nordea Life Assurance Finland Ltd

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