The Lithuanian insurance market: guidelines and perspectives

Abstract

While the insurance activity becomes more intense and diverse it is necessary to pay attention to the tendencies of development of the insurance market, as well as analyze and evaluate these tendencies. The results of the research indicate further development potential of the Lithuanian insurance, both life and non-life. The article overviews the development tendencies the Lithuanian insurance market by evaluating the direct and indirect indicators, i.e. the number of insurance companies, the sizes of insurance premiums, the insurance density, penetration, dynamics and development. Furthermore, the article evaluates the competitive abilities of Lithuanian insurers and the level of competition concentration.