BMI View: We forecast a positive growth trajectory for both of Lithuania's life and non-life insurancesegments over the period 2017-2021. Growth in the longer-term is, however, constrained by the country'ssmall and low-income population. Currently, the market is among the smallest in the CEE region and isgrowing from a low base, as is indicated by low levels of insurance density and penetration. A robusteconomic backdrop, however, will stimulate consumer spending and likely lead to an uptick in insurancedemand, making the Lithuanian market increasingly attractive for investors.
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With an estimated market share of 35.4% in 2017, Lithuania's life insurance market constitutes thesmaller major segment of the country's insurance sector. In the same year, gross life premiums shouldamount to EUR254mn (USD267mn) following growth of 3.1%. Over the remainder of our forecastperiod, we expect to see premiums rise at an average of 4.3% per year, ultimately reaching EUR302mn(USD302mn) in 2021.
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