ESTONIAN insurers' 3Q2012 GWP rise 11% y-o-y

31 January 2013 — Vlad BOLDIJAR
ESTONIAN insurers' 3Q2012 GWP rise 11% y-o-y
estonia-statisticsEstonian insurance companies posted total gross written premiums of EUR 259 million at the end of September, 2012, 10.9% up as compared with the previous year, according to quarterly market data published by the Financial Supervision Authority. Paid claims have increased by 2%, reaching EUR 145 million.

On insurance classes, the total value of GWP on the life segment increased by 5.9% y-o-y, reaching EUR 34.12 million (21% of the total market). At the same time, Estonian general insurers totaled EUR 200 million, increasing in absolute value by about EUR 22 million.

In fact, the non-life segment registered is increasing in all major insurance classes. The biggest increases have been in the accidents insurance (where the amount of GWP has been up 29% to EUR 12.6 million), GTPL (+22%, EUR 8 million) and property (+13%, over EUR 53 million). As in the previous periods, the motor insurance has captured the largest market share - over 44% (EUR 115 million), of which, 25% is related to motor hull insurance (EUR 63 million).

Of all four life insurers, the market leader was SWEDBANK Life Insurance SE (47.5% market share), followed by COMPENSA Life VIG SE (30.4%) and SEB Elu-ja Pensionikindlustus (16.8%). MANDATUM Life Ins. Baltic SE collected 5.3% of insurance premiums.

Estonia's market leader in non-life insurance was If P&C Insurance AS, which collected almost EUR 88 million of premiums in nine months. SEESAM Insurance AS collected EUR 36 million followed by ERGO Kindlustus - EUR 31 million.

Access www.xprimm.com and download the 3Q2012 Estonian insurance market.

Market portfolio (in EUR):
  • Gross written premiums
  • Paid claims 
  • Growth rates
Life and non-life insurance lines insurance companies ranking (in EUR):
  • Gross written premiums
  • Paid claims 
  • Market shares
  • Growth rates

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