Fast Market Research

Lithuania Insurance Report 2013 - New Market Research Report

Fast Market Research recommends "Lithuania Insurance Report 2013" from Business Monitor International, now available

 
Repost This

Boston, MA -- (SBWIRE) -- 01/02/2013 -- 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.

View Full Report Details and Table of Contents

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 is happening at a time that claims expenses have fallen relative to H111: profitability is rising for most of the players. Some companies are reporting very strong growth in premiums. More crucially, virtually all the non-life companies are looking to compete on service. As a result, they have invested heavily in call centres, market research, online tools and claims management processes. Lietuvos Draudimas, the former state owned company that is now a part of the RSA group, continues to speak for about one third of all non-life premiums that are being written in Lithuania.

In this report we have incorporated:

- BMI's latest forecasts for the Lithuanian economy.
- Official data, published by the regulator in relation to developments in the sector through H112.
- Comments from several of the leading players in relation to conditions in late 2011 and H112.

About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Financial Services research reports at Fast Market Research

You may also be interested in these related reports:

- Estonia Insurance Report 2013
- Argentina Insurance Report Q1 2013
- Ukraine Insurance Report 2013
- Kazakhstan Insurance Report 2013
- Brazil Insurance Report Q1 2013
- Latvia Insurance Report 2013
- Czech Republic Insurance Report Q1 2013
- Turkey Insurance Report 2013
- Pakistan Insurance Report 2013
- Mexico Insurance Report Q1 2013