FAQ

Question
Authorisation. Insurance market
What documents do I need to submit when applying for the issuance of the insurance activity licence?
Are there any specific requirements for the name of an insurance undertaking?
Which legal form and registration requirements apply to undertakings aiming to carry out insurance activities? Can an insurance activity licence be granted to a legal entity which has not yet been established (entered into the Register of Legal Entities)?
Can an insurance undertaking transfer its licence to another undertaking which meets the requirements applicable to insurance undertakings?
What are the requirements for persons holding managerial positions and shareholders of insurance undertakings?
Which legal acts specify the requirements for an applicant aiming to be granted a licence to engage in insurance activities?
What is the state levy for the issuance of an insurance activity licence?
How long does it take to issue a licence to engage in insurance activity?
Are the undertakings holding a reinsurance activity licence authorised to engage in any economic activity not associated with reinsurance activity?
Are the undertakings holding a licence to engage in insurance activity authorised to engage in any other economic activity which is not associated with insurance activity?
Is a reinsurance undertaking authorised to engage in insurance activities of any insurance class?
Who has the right to engage in reinsurance activity in the Republic of Lithuania?
What is reinsurance activity?
Is an insurance undertaking authorised to engage in insurance activity of any insurance class?
Is an undertaking which holds an insurance activity licence also authorised to provide services in other states?
Who has the right to engage in insurance activities in the Republic of Lithuania?
What is insurance activity?