Synopsis
Timetric’s 'Personal Accident and Health Insurance in Lithuania Key Trends and Opportunities to 2021' report provides a detailed outlook by product category for the Lithuanian personal accident and health insurance segment, and a comparison of the Lithuanian insurance industry with its regional counterparts.
It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2012-2016) and forecast period (2016-2021).
The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Lithuanian economy and demographics, and provides detailed information on the competitive landscape in the country.
The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations and recent changes in the regulatory structure.
Scope
This report provides a comprehensive analysis of the personal accident and health insurance segment in Lithuania:
• It provides historical values for the Lithuanian personal accident and health insurance segment for the report’s 2012-2016 review period, and projected figures for the 2016-2021 forecast period.
• It offers a detailed analysis of the key categories in the Lithuanian personal accident and health insurance segment, and market forecasts to 2021.
• It provides a comparison of the Lithuanian personal accident and health insurance segment with its regional counterparts.
• It provides an overview of the various distribution channels for personal accident and health insurance products in Lithuania.
• It profiles the top personal accident and health insurance companies in Lithuania, and outlines the key regulations affecting them.
Summary
Timetric’s 'Personal Accident and Health Insurance in Lithuania Key Trends and Opportunities to 2021' report provides in-depth market analysis, information and insights into the Lithuanian personal accident and health insurance segment, including:
• An overview of the Lithuanian personal accident and health insurance segment
• The Lithuanian personal accident and health insurance segment’s growth prospects by category
• A comprehensive overview of the Lithuanian economy and demographics
• A comparison of the Lithuanian personal accident and health insurance segment with its regional counterparts
• The various distribution channels in the Lithuanian personal accident and health insurance segment
• Details of the competitive landscape in the personal accident and health insurance segment in Lithuania
• Details of regulatory policy applicable to the Lithuanian insurance industry
Reasons To Buy
• Make strategic business decisions using in-depth historic and forecast market data related to the Lithuanian personal accident and health insurance segment, and each category within it.
• Understand the demand-side dynamics, key market trends and growth opportunities in the Lithuanian personal accident and health insurance segment.
• Assess the competitive dynamics in the personal accident and health insurance segment.
• Identify growth opportunities and market dynamics in key product categories.
• Gain insights into key regulations governing the Lithuanian insurance industry, and their impact on companies and the industry's future.
Key highlights
• The personal accident and health segment accounted for 8.3% of the Lithuanian insurance industry in 2016.
• Solvency II came into effect on January 1, 2016. It is based on three pillars: risk-based quantitative requirements; governance and supervision; and disclosure and transparency.
• Until 2015, the Bank of Lithuania considered personal accident and sickness a part of non-life insurance, although life companies sold health insurance as a supplement to main life policies. From 2016, health insurance is a part of life insurance, and medical expense insurance is considered a non-life insurance product.
Table Of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Segment Indicators
4.1.1 Gross written premium and penetration
4.1.2 Active policies
4.1.3 Profitability
4.1.4 Assets and investments
5 Distribution Channel Outlook
6 Competitive Landscape
6.1 Company Profiles
6.1.1 Aviva Lietuva – company overview
6.1.2 Compensa Life Insurance – company overview
6.1.3 Lietuvos Draudimas – company overview
6.1.4 Ergo Life – company overview
6.1.5 SEB Gyvyb?s Draudimas – company overview
7 Governance, Risk and Compliance
7.1 Legislation Overview and Historical Evolution
7.2 Latest Changes in Regulation
7.3 Legislation and Market Practice by Type of Insurance
7.3.1 Life insurance
7.3.2 Property insurance
7.3.3 Motor insurance
7.3.4 Liability insurance
7.3.5 Marine, aviation and transit insurance
7.3.6 Personal accident and health insurance
7.4 Compulsory Insurance
7.4.1 Motor third-party liability insurance
7.4.2 Workers’ compensation
7.4.3 Civil liability insurance for construction designers
7.4.4 Civil liability insurance of contractors
7.4.5 Civil liability insurance on auditor firms
7.4.6 Air carriers and aircraft operators insurance
7.4.7 Professional indemnity insurance for alternative investment fund managers
7.4.8 Clinical trials liability insurance
7.4.9 Professional liability insurance for lawyers
7.4.10 Professional civil liability insurance for insurance and reinsurance intermediaries
7.4.11 Professional civil liability insurance for insurance brokers
7.4.12 Liability for ships with respect to oil pollution
7.5 Supervision and Control
7.5.1 International Association of Insurance Supervisors
7.5.2 European Insurance and Occupational Pensions Authority
7.5.3 Bank of Lithuania
7.5.4 Federation of European Risk Management Associations
7.6 Non-Admitted Insurance Regulations
7.6.1 Overview
7.6.2 Intermediaries
7.6.3 Market practices
7.6.4 Fines and Penalties
7.7 Company Registration and Operations
7.7.1 Type of insurance organization
7.7.2 Establishing a local company
7.7.3 Foreign ownership
7.7.4 Types of license
7.7.5 Capital requirements
7.7.6 Solvency margin
7.7.7 Reserve requirements
7.7.8 Investment regulations
7.7.9 Statutory return requirements
7.7.10 Fee structure
7.8 Taxation
7.8.1 Insurance premium or policy taxation
7.8.2 Withholding taxes on premium paid overseas
7.8.3 Corporate tax
7.8.4 VAT
7.8.5 Captives
7.9 Legal System
7.9.1 Introduction
7.9.2 Access to court
7.9.3 Alternative dispute resolution
8 Databook
8.1 Policies and Premium
8.2 Claims and Expenses
8.3 Assets and Investments
8.4 Direct Marketing and E-Commerce
8.5 Insurance Brokers and Agencies
8.6 Bancassurance
9 Definitions and Methodology
9.1 Definitions
9.2 Methodology
10 About Timetric
10.1 Contact Timetric
10.2 About Timetric
10.3 Timetric’s Services
10.4 Disclaimer
List Of Tables
Table 1: Lithuanian Personal Accident and Health Insurance - Key Facts, 2016
Table 2: Lithuanian Personal Accident and Health Insurance - Segment Shares (%) of the Top Insurers, 2016
Table 3: Lithuanian Government Credit Ratings
Table 4: Lithuanian Personal, Accident and Health Insurance - Road Accidents, 2012-2016
Table 5: Latvian Marine, Aviation and Transit Insurance - Air Passenger Traffic (thousand), 2012-2016
Table 6: Lithuanian Personal Accident and Health Insurance - Gross Written Premium (EUR Million and US$ Million), 2012-2016
Table 7: Lithuanian Personal Accident and Health Insurance - Gross Written Premium (EUR Million and US$ Million), 2016-2021
Table 8: Lithuanian Personal Accident and Health Insurance - Number of Active Policies (Thousand), 2012-2016
Table 9: Lithuanian Personal Accident and Health Insurance - Number of Active Policies (Thousand), 2016-2021
Table 10: Lithuanian Personal Accident and Health Insurance - Profitability Ratio (%), 2012-2016
Table 11: Lithuanian Personal Accident and Health Insurance - Profitability Ratio (%), 2016-2021
Table 12: Lithuanian Personal Accident and Health Insurance - Total Assets (EUR Million and US$ Million), 2012-2016
Table 13: Lithuanian Personal Accident and Health Insurance - Total Assets (EUR Million and US$ Million), 2016-2021
Table 14: Lithuanian Personal Accident and Health Insurance - Investment Portfolio (EUR Million), 2012-2016
Table 15: Lithuanian Personal Accident and Health Insurance - Investment Portfolio (EUR Million), 2016-2021
Table 16: Lithuanian Personal Accident and Health Segment - Market Shares of Leading Insurers (%), 2016
Table 17: Aviva Lietuva - Key Facts
Table 18: Compensa Life Insurance - Key Facts
Table 19: Compensa Life Insurance - Key Financials (EUR Million), 2012-2016
Table 20: Lietuvos Draudimas - Key Facts
Table 21: Lietuvos Draudimas - Key Financials (EUR Million), 2012-2016
Table 22: Ergo Life - Key Facts
Table 23: Ergo Life - Key Financials (EUR Million), 2012-2016
Table 24: SEB Gyvyb?s Draudimas - Key Facts
Table 25: SEB Gyvyb?s Draudimas - Key Financials (EUR Million), 2012-2016
Table 26: Lithuania - Insurance Regulatory Framework Key Features
Table 27: Lithuania - Life Insurance Regulatory Framework
Table 28: Lithuania- Property Insurance Regulatory Framework
Table 29: Lithuania - Motor Insurance Regulatory Framework
Table 30: Lithuania - Liability Insurance Regulatory Framework
Table 31: Lithuania - Minimum Coverage for Aircraft Third-Party Liability Per Accident per Aircraft
Table 32: Lithuania - Corporate Tax Rates for the Financial Year 2017
Table 33: Lithuanian Personal Accident and Health Insurance Industry - Policies and Premium, 2012-2016
Table 34: Lithuanian Personal Accident and Health Insurance Industry - Policies and Premium, 2016-2021
Table 35: Lithuanian Personal Accident and Health Insurance - Claims and Expenses, 2012-2016
Table 36: Lithuanian Personal Accident and Health Insurance - Claims and Expenses, 2016-2021
Table 37: Lithuanian Personal Accident and Health Insurance - Assets and Investments, 2012-2016
Table 38: Lithuanian Personal Accident and Health Insurance - Assets and Investments, 2016-2021
Table 39: Lithuanian Personal Accident and Health Insurance - Direct Marketing and E-Commerce, 2012-2016
Table 40: Lithuanian Personal Accident and Health Insurance - Direct Marketing and E-Commerce, 2016-2021
Table 41: Lithuanian Personal Accident and Health Insurance - Insurance Brokers and Agencies, 2012-2016
Table 42: Lithuanian Personal Accident and Health Insurance - Insurance Brokers and Agencies, 2016-2021
Table 43: Lithuanian Personal Accident and Health Insurance - Bancassurance, 2012-2016
Table 44: Lithuanian Personal Accident and Health Insurance - Bancassurance, 2016-2021
Table 45: Insurance Industry Definitions
List Of Figures
Figure 1: Lithuanian Real GDP (US$ Billion), 2012-2021
Figure 2: Lithuanian Current Account Balance as Percentage of GDP (%), 2012-2016
Figure 3: Lithuanian Consumer Price Inflation (%), 2012-2021
Figure 4: Lithuanian Unemployment Rate, 2012-2021
Figure 5: Lithuanian Population by Age Group, 1991-2025
Figure 6: Lithuanian Personal Accident and Health Insurance - Gross Written Premium (EUR Million), 2012-2021
Figure 7: Lithuanian Personal Accident and Health Insurance - Number of Active Policies (Thousand), 2012-2021
Figure 8: Lithuanian Personal Accident and Health Insurance - Profitability Ratio (%), 2012-2021
Figure 9: Lithuanian Personal Accident and Health Insurance - Total Assets (EUR Billion), 2012-2021
Figure 10: Lithuanian Personal Accident and Health Insurance - Investment Portfolio (EUR Million), 2012-2021
Figure 11: Lithuanian Personal Accident and Health Insurance - Investment Portfolio Dynamics by Types of Investment, 2012-2021
Figure 12: Lithuanian Personal Accident and Health Segment - Market Shares of Leading Insurers (%), 2016
Figure 13: Lithuania - The Three Pillars of Solvency II
Figure 14: Lithuania - Insurance Supervision and Control at Various Levels
Figure 15: Lithuania - Insurance Regulatory Frameworks for Company Registration and Operation
