Lithuania
< < >-< OECD.Stat
Population & Scope
Population & Scope Statistical population Statistical populationGeneral remarks:
Data provided under domestic undertakings on Balance Sheet and Income Statement include the data of insurance undertakings established in Lithuania as well as the data of their EU branches.
Data provided under branches of foreign undertakings cover the data of branches of EU/EEA undertakings operating in Lithuania. There are no branches or agencies of non-EU/non-EEA undertakings operating in Lithuania and no reinsurance undertakings. Data of EU/EEA branches are provided if possible (some of the data from the branches are not collected by the Bank of Lithuania).
In 2019, one composite undertaking operating independently in Lithuania ceased its activity as a company and continued its activity as a branch of another EU company. In 2020, two non-life insurance companies operating in the Baltic market merged with a headquarter in Lithuania. In 2022, a new life insurance company was licensed and took over the business in the Baltic States of another life insurance company, which was registered in another EU country.
The new insurance contract accounting standard IFRS 17 entered into force on 1 January 2023.
The breakdown of gross premiums written in the reporting country on risks situated outside the reporting country is not available.
Definition of foreign-controlled companies:
Companies for which more than 50 per cent of the share capital is foreign-owned.
Data provided under domestic undertakings on Balance Sheet and Income Statement include the data of insurance undertakings established in Lithuania as well as the data of their EU branches.
Data provided under branches of foreign undertakings cover the data of branches of EU/EEA undertakings operating in Lithuania. There are no branches or agencies of non-EU/non-EEA undertakings operating in Lithuania and no reinsurance undertakings. Data of EU/EEA branches are provided if possible (some of the data from the branches are not collected by the Bank of Lithuania).
In 2019, one composite undertaking operating independently in Lithuania ceased its activity as a company and continued its activity as a branch of another EU company. In 2020, two non-life insurance companies operating in the Baltic market merged with a headquarter in Lithuania. In 2022, a new life insurance company was licensed and took over the business in the Baltic States of another life insurance company, which was registered in another EU country.
The new insurance contract accounting standard IFRS 17 entered into force on 1 January 2023.
The breakdown of gross premiums written in the reporting country on risks situated outside the reporting country is not available.
Definition of foreign-controlled companies:
Companies for which more than 50 per cent of the share capital is foreign-owned.
General remarks:
Data provided under domestic undertakings on Balance Sheet and Income Statement include the data of insurance undertakings established in Lithuania as well as the data of their EU branches.
Data provided under branches of foreign undertakings cover the data of branches of EU/EEA undertakings operating in Lithuania. There are no branches or agencies of non-EU/non-EEA undertakings operating in Lithuania and no reinsurance undertakings. Data of EU/EEA branches are provided if possible (some of the data from the branches are not collected by the Bank of Lithuania).
In 2019, one composite undertaking operating independently in Lithuania ceased its activity as a company and continued its activity as a branch of another EU company. In 2020, two non-life insurance companies operating in the Baltic market merged with a headquarter in Lithuania. In 2022, a new life insurance company was licensed and took over the business in the Baltic States of another life insurance company, which was registered in another EU country.
The new insurance contract accounting standard IFRS 17 entered into force on 1 January 2023.
The breakdown of gross premiums written in the reporting country on risks situated outside the reporting country is not available.
Definition of foreign-controlled companies:
Companies for which more than 50 per cent of the share capital is foreign-owned.
Data provided under domestic undertakings on Balance Sheet and Income Statement include the data of insurance undertakings established in Lithuania as well as the data of their EU branches.
Data provided under branches of foreign undertakings cover the data of branches of EU/EEA undertakings operating in Lithuania. There are no branches or agencies of non-EU/non-EEA undertakings operating in Lithuania and no reinsurance undertakings. Data of EU/EEA branches are provided if possible (some of the data from the branches are not collected by the Bank of Lithuania).
In 2019, one composite undertaking operating independently in Lithuania ceased its activity as a company and continued its activity as a branch of another EU company. In 2020, two non-life insurance companies operating in the Baltic market merged with a headquarter in Lithuania. In 2022, a new life insurance company was licensed and took over the business in the Baltic States of another life insurance company, which was registered in another EU country.
The new insurance contract accounting standard IFRS 17 entered into force on 1 January 2023.
The breakdown of gross premiums written in the reporting country on risks situated outside the reporting country is not available.
Definition of foreign-controlled companies:
Companies for which more than 50 per cent of the share capital is foreign-owned.