BMI's Executive Summary

[TOP]

The Sector At A Glance

Key Insights On Lithuania's Insurance Sector

Like its counterparts in Estonia and Latvia, Lithuania's insurance sector is growing quickly. Like the insurance sectors in the other Baltic states, it will never be particularly large. Life insurance is far less developed than is non-life insurance. However, Lithuania appears to be a more attractive market for major foreign insurers (or at least those who have established businesses in the country already) for two reasons. The first is that the Lithuanian government has apparently done more to improve the country's business competitiveness and readiness for ultimate participation in Economic and Monetary Union with the rest of the Euroland. The second is that the Lithuanian non-life market appears more orderly than its counterparts in Latvia and Estonia.

In essence, competition (both in terms of price and development of new products) appears to be more intense in Latvia and Estonia than in Lithuania. We would attribute this to the dominant position of Lietuvos Draudimas in the Lithuanian market and, in particular, in the non-life segment. Neither of the other two countries have a former state-owned monopoly that is now a subsidiary of a major foreign insurer. Indeed, Codan, the Danish insurer which is ultimately a part of the Royal/Sun Alliance group, has indicated that it is keen to move to full control of Lietuvos Draudimas.

Key Features Of This Report - And Likely Future Changes

As we envisaged earlier this year, this report includes a completely new and updated Analysis of Competitive Conditions. We have looked at the corporate websites of around 60 companies to assess where they are active in the non-life and/or the life segments. We have also considered the likely growth in absolute premiums, both for the 36 countries that we survey, and for 24 others. A key observation is that there are many countries where the numbers of cross-border insurance companies are surprisingly large, given the scale of the market opportunity: conversely, there is a number of countries where the cross-border insurance companies that are present are surprisingly small.

In the third quarter of 2006, we hope to improve the Analysis of Competitive Conditions and to include actual premium statistics for the end of 2005.

Contents of the Lithuania Insurance Report

[TOP]

Chapter 1 - The Sector At A Glance

Table: Lithuania Overview

Key Features Of This Report And Likely Future Changes

Chapter 2 - Latest News

Evolution Since The Mid-1990s

Table: Lithuania Evolution of the Insurance Sector (in millions of currency specified)

Chapter 3 - Projections And Forecasts

Table: Lithuania BMI Projections (in millions of currency specified)

Projections And Drivers Of Growth

Chapter 4 - Macroeconomic Outlook

Table: Indicators Of Economic Activity

Chapter 5 - Country Update

Political Risk Early Elections On The Horizon

Economic Risk Strong Production Growth

Business Environment Promoting FDI

Table: Non-Life Segment Rankings of Markets

Table: Presence of Non-Life Cross-Border Insurers

Table: Selected Local Non-Life Insurers

Table: Life Segment Rankings of Markets

Table: Presence of Life Cross-Border Insurers

Table: Selected Local Life Insurers

Whos who in the Central and Eastern European region?

Chapter 6 - Regional Context

Table: Regional Context - premiums

Table: Regional Context Total premiums

Chapter 7 - Methodology And Objectives

Introduction

Background

Forecasts

Chapter 8 - Appendix

Table: Latest estimates/ actual figures for 2005

Table: Latest estimates for 2010

Table: Latest estimates for 2005-2010

Competitive Landscape for Europe Insurance Reports: Sample of
    Companies Ranked

[TOP]

A cross-border overview of key players and their insurance market share across Europe. Tables and graphs show country presence of multinationals across the region. Comparative company analyses and rankings by premium income (life and non-life). Company SWOTS for leading life and non-life insurers, covering network of offices, presence of foreign stakeholders, strategic relationships, joint ventures; portfolio of clients; diversity of product range; profit growth, investment strategy and risk exposure.

Network of Insurance Sources

[TOP]

BMI's European Insurance Reports are based on an extensive network of multilateral organisations, government departments, insurance industry associations, chambers of commerce and company reports. Information sources include:

Read about our other Insurance Reports