Location map
author: OCHA/ ReliefWeb

- Eastern Europe, bordering the Baltic Sea and Gulf of Finland;
- Neighbours: Latvia, Russia, Finland.

- maritime;
- wet, moderate winters;
- cool summers.

Natural hazards:
- floods in the spring;

Macro indicators
* 2018 estimates
Pop. density*:29.2people/km2
GDP*:25.7EUR billion

European Union:
EU member, since 2004

Currency: Euro
Code: EUR
Since: 2011
- replaced Estonian kroon (EEK)

Insurance market portfolio
* 2018 estimates
Overall Property*:24%
Overall Motor*:48%



STATISTICS: Estonian insurers posted YE2021 aggregate GWP of almost half billion euro

Last year, Estonian insurance market totaled EUR 486.3 million in terms of GWP, up by 3.7% y-o-y, according to FY2021 market figures published by the Estonian National Statistics Board. The life insurance segment increased by 1.5% y-o-y to EUR 86.8 million, while in the case of non-life insurance market, the GWP amounted to EUR 399.5 million (82.1% of total), up by 4.2% y-o-y.

Estonia: 1 of 5 guilty drivers involved in parking accidents are leaving the scene

According to the data published by the Estonian Traffic Insurance Fund (LKF), during the first eleven months of 2021 there were reported about 29 thousand traffic accidents related to Motor TPL policies with a total loss of EUR 51 million. Of this total, about 11 thousand are parking accidents, with a total loss of EUR 12 million, with an average damage per claim file of EUR 1,085.

Estonia: The number of traffic accidents increased by a quarter in H1

According to the statistics of the Estonian Traffic Insurance Fund (LKF), during the first six months of the year 17,080 traffic accidents have occurred, with cars insured by Estonian insurers, which is 25% more than last year. Of this total, 15,790 traffic insurance cases were registered in Estonia and 1,290 abroad.

STATISTICS: Estonian insurance market closed H1 2021 with 2.4% increase in GWP

Estonian insurers reported H1 GWP of EUR 241.5 million, 2.4% more compared with January-June 2020, according to the market figures published by the Estonian National Statistics Board.

In GWP terms, the life segment was down by 2.7% to EUR 40.7 million (16.9% of total GWP), while the GWP by Estonian non-life insurers totaled EUR 200.7 million, 3.5% more y-o-y.

Among the five life insurers, the largest insurer remained SWEDBANK Life Insurance SE (46.1% market share), while If P&C Insurance AS (19.4%) lead the general insurance segment.

Estonia: the hot summer heats up insurers' claims operations

This year's hot summer has had its impact on the nation's insurers, some of whom have reported a rise in claims over damages not only relating to storms, but also directly and indirectly to hot weather in general, including traffic accidents and damage to personal items cause by the heat, Estonian ERR information websites reports.

LHV Kindlustus unaudited results for 1H 2021

LHV Kindlustus, Estonian LHV Group's recently established non-life insurance unit, ended the first half of the year with a net loss of EUR 388,000. The consolidated net profit of AS LHV Group, including banking, asset management and insurance businesses, reached EUR 24.3 million.

STATISTICS: Estonian insurers posted an aggregate subunit decrease in first quarter GWP

Estonian insurers reported a GWP of EUR 118 million in Q1 2021, or 0.94% less y-o-y, according to quarterly figures, published by the Estonian National Statistics Board. The total value of GWP for the life segment increased by 1.87% y-o-y to EUR 20.94 million, while the value of non-life GWP totaled EUR 97.93 million, down by 1.52% y-o-y.