Life Report

Product Insurance Market Reports Life Rev Lithuania

Key Highlights

Get access to Axco’s online product with the latest market intelligence for the market of your choice


  • Key insights and explanations of market developments in life insurance, healthcare and pensions
  • Details Lithuania's insurance, social security, pensions and healthcare regulatory framework and company and personal tax considerations
  • Current legislation and upcoming changes
  • The latest developments in Lithuania's economic and political environment
  • Demographic information
  • Market statistics and company performance

Report Overview

Independent strategic insight, line of business detail, regulatory information & market data for the non-life (P&C) insurance market of Lithuania

The Lithuania life and benefits market report provides a comprehensive, impartial analysis of the life insurance market of Lithuania. Information extends to extensive detail on healthcare (public and private), pensions and benefits, and social security. Specialist researchers visit Lithuania and interview local professionals working across the local market. The report is updated with new information and data regularly throughout the cycle of country visits.

The report provides information about Lithuania’s demographic profile and assesses its economic, political, climate, operational, and security risks. Key data on the investment environment in Lithuania is available.

Axco’s report describes the regulatory framework that applies to the Lithuanian domestic life insurance sector, including whether non-admitted insurance is permitted in Lithuania; as well as the legislation necessary to know regarding Lithuania’s healthcare, pensions and social security.

Statistics include five years of life insurance market performance indicators, including gross written premiums, premium growth and penetration rates. Company statistics show who are the leading life insurance companies in Lithuania with local life insurance company premiums, market share and year on year growth.

Life Insurance

Axco provides details on the life insurance sector including Lithuanian market participants, reinsurance and distribution channels. The reports describe classes of business from both individual and group life such as whole life, endowment, term life and unit-linked.
Information on non-life classes for example critical illness and private medical insurance.


The report describes the public and private healthcare system in Lithuania, the scope of cover, accessibility financing and provides an analysis of how the public and private systems complement each other.


Axco reports on the three pillars of Lithuanian pension provision.

  • State pension benefits including benefit calculations and eligibility criteria 
  • Workplace pension provision; types of schemes calculations eligibility and; tax implications
  • Voluntary individual pension provision, type of products and tax implications

Social Security

The Lithuania report provides an in-depth analysis of the regulatory framework governing social security as well as details on financing and eligibility. Information includes but is not limited to

  • state pensions,
  • permanent disability benefit
  • occupational accident and disease
  • maternity and paternity payments 

Lithuania Life and Benefits Report Extract

Below are brief extracts of information from the Lithuania Life & Benefits Report; more updated information may be available in the latest published report.

Life Insurance

In 2019 total life premium, predominantly individual life, was EUR 236.60mn (USD 257.82mn), up just over 9% on 2018. Figures for the first three quarters of 2020 continue to show healthy growth, with life premium up by more than 8.5%.

Unit-linked insurance premium continues to account for the overwhelming bulk of the portfolio, about 74% of total life premiums or EUR 135.85mn (USD 145.85mn) in 2020 ....


At the end of 2019 there were 1,347,209 members of pillar II pension funds.

Legislation on the first element of a three-pillar pension system was first introduced back in 1995 with further laws passed to provide for the third element of the system, voluntary individual and employer contributions, from 2000. Additional legislation followed in 2002 which provided for a proportion of the State Social Insurance Fund (SoDra) contribution ....


Premium income in 2019 for private medical insurance (PMI) in the official category ''supplementary voluntary health insurance'' was EUR 38.04mn (USD 41.45mn), growing strongly each year. The figure for 2020 after three quarters was EUR 32.06mn (USD 34.94mn), up about 7%.

The measures taken by Lithuania to stop the spread of the COVID-19 virus during 2020 have hit GDP and employment with different sectors of the economy affected to varying extents. Although its healthcare system is underfunded and has many deficiencies, it has coped well with the COVID-19 pandemic ....

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