The Lithuanian personal accident and health insurance segment recorded growth during the review period (2008−2012), with the segment’s written premium value increasing at a compound annual growth rate (CAGR) of 2.3% during the review period. It is further expected to grow at a CAGR of 5.6% over the forecast period (2012−2017). This growth was driven by an increase in healthcare expenditure, rising life expectancy, mandatory health insurance and growing consumer awareness of the benefits of insurance products. According to the International Monetary Fund (IMF), the country’s GDP per capita at current prices is expected to value at LTL52,457.4 (US$21,209.6) in 2017, registering a CAGR of 6.8% over the forecast period. This growth is expected to result in an increase in average income levels and, consequently, improve the demand for personal accident and health insurance products. Personal accident insurance was the leading category in the segment accounting for 65.5% of the written premium in 2012.
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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 2008–2012 review period and projected figures for the 2012–2017 forecast period.
- It offers a detailed analysis of the key sub-segments in Lithuanian personal accident and health 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 personal accident and health insurance products in Lithuania.
- Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in Lithuania for the personal accident and health insurance segment.
- It provides a detailed analysis of the reinsurance segment in Lithuania and its growth prospects.
- It profiles the top personal accident and health insurance companies in Lithuania and outlines the key regulations affecting them.
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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 within the Lithuanian personal accident and health insurance segment
- Assess the competitive dynamics in the personal accident and health insurance segment, along with the reinsurance segment
- Identify the growth opportunities and market dynamics within key product categories
- Gain insights into key regulations governing the Lithuanian insurance segment and its impact on companies and the market's future
- The personal accident and health segment recorded a slow growth during the review period.
- Personal accident insurance was the largest category of the segment during the review period, representing a 65.5% share of the total written premium in 2012.
- Health insurance is a key category within the personal accident and health segment and accounted for 33.2% of its written premium in 2012.
- Over the forecast period, growth is expected to be driven by Lithuania’s strong economic growth.
- The segment is highly consolidated, with the 10 leading insurers representing 98.4% of the total personal segment’s 2012 gross written premium.
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