ESTONIA: Balcia Insurance becomes a member of the Association of Insurance Companies

30 October 2023 — Marina MAGNAVAL
Balcia insurance became a new member of the Association of Estonian Insurance Companies (EKsL). All 18 insurance companies operating in Estonia are members of EKsL, Association of Estonian Insurance Companies (EKsL) informed.

According to Mart Jesse, head of EKsL, Balcia's entry into the market means that Estonia is a very perspective market internationally. "Although the competitive situation is very tight, insurers see room for action in the market. Balcia insurance made a quick start in Estonia - services were offered three months after the branch was registered", said Jesse.

According to Balcia branch manager Denis Nikolajev, Balcia entered the market with innovative lifestyle-based insurance products. "For example, we offer insurance to a cyclist or a scooter user who moves around the city and wants insurance for him/her and not the vehicle", he said.

Balcia is an international insurance technology company with 30 years of experience, offering a wide range of protection products. In addition to Estonia, operations are carried out in Latvia, Lithuania, Poland, and other Central European countries.