Insurance of Jewelry Basic Need
BTA Draudimas is ranked second in terms of Compulsory Motor Insurance with a 22.2% stake in the market. It is the principal insurance bracket offered by the company, accounting for 60.9% of the company’s portfolio.
In terms of Travel and Accident Insurance, BTA Draudimas is ranked third with a market share of 15.2%; these insurance brackets comprise 6.3% of BTA Draudimas portfolio.
“At the beginning of the year we set ourselves an ambitious goal – to become one of the leading insurance companies in Lithuania. In less than a year, thanks to joint effort, enthusiasm and tireless work by the company’s shareholders, management and the entire team, we have risen from 4th to 2nd place in the Lithuanian insurance market. Such achievements inspire, and we are resolved to continue along this path so that BTA Draudimas move further ahead and the company’s position as a reliable co-operation partner is consolidated not only in the market but also as in the minds of the public and companies,” BTA Draudimas Director General Tadeuš Podvorski comments.
Latvian insurance company BTA entered Lithuania by acquiring 100% of Lithuanian insurance company LTB Draudimas in February 2002, it was renamed BTA Draudimas in the same year.
By Aamir Mannan.
BTA Subsidiary in Lithuania Ranked Second Largest Insurance Company
This year BTA has also been growing rapidly in Lithuania, where its subsidiary, BTA Draudimas already ranks second with 12.3% of the Lithuanian non-life insurance market and gross premiums worth LVL 21 285 246. This is thanks to the company’s active business development and expansion in the neighbouring country, continuing development of the company’s services, restructuring of the administrative resources as well as the sales procedures and customer service.
In terms of gross premiums, the Lithuanian insurance market in the first 9 months of this year contracted 28% altogether year-on-year, whereas BTA Draudimas recorded just a 7% decrease. Within the period the company posted 4.8 million litas or approximately 1 million lats in profit.
BTA Draudimas is a leader in the Lithuanian market in terms of Third Party Liability Insurance with a market share of 21.4%, and Financial Risks Insurance with a market share of
33.5%. These insurance services make up 10.3% and 7% respectively of the company’s portfolio. 
BTA Draudimas is ranked second in terms of Compulsory Motor Insurance with a 22.2% stake in the market. It is the principal insurance bracket offered by the company, accounting for 60.9% of the company’s portfolio. 
In terms of Travel and Accident Insurance, BTA Draudimas is ranked third with a market share of 15.2%; these insurance brackets comprise 6.3% of BTA Draudimas portfolio. 
“At the beginning of the year we set ourselves an ambitious goal – to become one of the leading insurance companies in Lithuania. In less than a year, thanks to joint effort, enthusiasm and tireless work by the company’s shareholders, management and the entire team, we have risen from 4th to 2nd place in the Lithuanian insurance market. Such achievements inspire, and we are resolved to continue along this path so that BTA Draudimas move further ahead and the company’s position as a reliable co-operation partner is consolidated not only in the market but also as in the minds of the public and companies,” BTA Draudimas Director General Tadeuš Podvorski comments. 
Latvian insurance company BTA entered Lithuania by acquiring 100% of Lithuanian insurance company LTB Draudimas in February 2002, it was renamed BTA Draudimas in the same year.
BTA Draudimas co-operates with private individuals as well as enterprises; the company’s main insurance products include Compulsory and Voluntary Motor Insurance, Property Insurance, Individual Insurance, Financial Risks Insurance and others. BTA Draudimas is also one of the leaders in Lithuania’s Aircraft Insurance, Medical Malpractice Professional Indemnity Insurance and Compulsory Civil Liability Insurance for Brokers. Last year BTA Draudimas added Medical Insurance for Legal Entities to its insurance product portfolio.
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