Lithuanian insurance business expands. Observing the tendencies the experts conclude: the insurance market attract new investors. The specialists estimate that the growing share capital shall seduce more people to insure.

Try to imagine that the competitors have intruded into the website of your company and corrected the numbers a little bit. Or a new virus has damaged all the information. All this means losses, efforts and irritation.
And when it happens there is nothing for it, but to calm down having drunk tincture of valerian or to take an ice-cold shower. The American specialists little by little begin to think of such kind of protection and create the theories of insurance of such kind. They calculate how much the insurance of information in the networks could cost. And this would depend on the importance on imformation, on quantity, on subject and on other similar things. In Lithuania the Insurance services still stay within the framework of reality: it is possible to insure life, possible to insure private property, but not information.
Despite that, after the depression of the Lithuanian insurance market last year, this year larger amounts of money are circulating in the insurance business. The financiers of the agencies have calculated that the Lithuanian citizens have spent much more money on insurance during six months than they did last year. It turned out that Lithuanian insurance business expands. The increasing total share capital of the insurance agencies of Lithuania is the evidence. Observing such tendencies the experts conclude: the insurance market attract new investors. The specialists estimate that the growing share capital shall seduce more people to insure. This is a wonderful sign in the insurance market. But after having observed general situation in our country, good insurers’ news loose their brightness. Because the experts notice that less and less Joint-Stock companies issue securities. So, the market of not developed capital moves off. Besides, the capital concentrates and this means that the number of small shareholders diminishes. In such a situation brokers should worry. Because as the capital market moves off they feel like fish on the land. Furthermore, both the Russian and American scientists predict prompt and painful destruction of broker’s profession. Now it is possible to buy and to sell shares through the Internet. For instance, American broker corporation "Charles Schwab"became popular among the investments for its virtual investment funds. It is very interesting if we will have something alike in Lithuania. Under the Sun The insurance brokers also strike for their place under the sun. (One of them is trading the services of several insurance agencies). During the last three months two treaties testifying the strengthening of their positions were signed. This year in April three companies have united into the biggest brokers’ organization in the country “United insurance centre”. It expects the turnover of 14 millions. In spite the first amalgamation, one of these companies have attracted new foreign investor, “MAI”, the company of independent insurance brokers. "MAI" is also the member of the international broker association. Such amalgamation is favourable base for the insurance brokers. There simply was no powerful leader among them. And for the brokers it is much more difficult to survive when they act alone than for the insurance agencies. All the same, Lithuanian insurance market is unstable. Last year several big insurance companies moved off. It is natural that their places were occupied by new agencies. But they are not such powerful and influential. So the real new leaders are still forming. This year the leader is “Lietuvos draudimas”. The Lithuanians are inclined to insure private property (real estate, cars etc). And health insurance takes small share of the market. Only five out of thirty-one Lithuanian firms: "Preventa", "Lindra", "Snoro garantas", "Balticums draudimas" and "Baltic garant" insure the tourism agencies. But is not much. The Optimists are Waiting for Spring In spite of the possibilities to expand, the insurance market depends on the economical situation of the country, too. And the new are really good. During this half-year GNP has increased by 4.1 percent (last year GNP decreased by the same amount). And the pessimists on the contrary, claim that Lithuanian statistics is usually wrong. Menwhile, the optimists are waiting for next spring. “Next spring an economical upswing and the larger demand in the internal market will occur”, - they say. More information on insurance: Insurance services in Lithuania
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