Estonia
ESTONIA: Storms cause the most insurance cases in December
According to the Estonian Insurance Association (EKsL), in the last 15 years, storms have caused the most insurance cases in December. The risk of storms is also greater in October and August. The biggest storm in 2023 was on October 7-8, when it caused 1,500 insurance cases with a total loss of EUR 3.5 million.
12 December 2023STATISTICS: Estonian insurers’ GWP expanded to EUR 477 million at the end of Q3 2023
Estonian insurers posted January-September 2023 aggregate GWP worth EUR 477 million, 17.5% more y-o-y, according to the market figures published by the Estonian National Statistics Board. Total paid claims by local insurers increased by 4.5% y-o-y to ~EUR 302 million.
29 November 2023ESTONIA: The average annual premium for motor insurance increase by 22% in 10 months
According to the Estonian Traffic Insurance Fund (LKF), during the first 10 months of 2023, the average annual premium for motor insurance amounted to EUR 144, which is 22% more y-o-y, the Fund said.
29 November 2023ESTONIA: EKsL: the desire of Estonian people to insure their lives is low
According to the Association of Estonian Insurance Companies (EKsL), 30% of the country’s population has life insurance. Last year, collected life insurance premiums reached EUR 60 per person, while non-life insurance amounted to EUR 347 per person, the Association wrote.
13 November 2023ESTONIA: Balcia Insurance becomes a member of the Association of Insurance Companies
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.
30 October 2023ESTONIA: The winner of the insurance act of the year 2023 to be announced at the insurance conference on October 18
EKsL and the Estonian Insurance Brokers Association are organizing selection of the best act in insurance of the year for the first time. Eight applications were received for the competition, Association of Estonian Insurance Companies (EKsL) informed.
10 October 2023STATISTICS: Estonian insurance market exceeded EUR 300 million at the end of June 2023
Estonian insurers reported H1 2023 GWP worth EUR 318.8 million, 18.4% more compared with January-June 2022, according to the market figures published by the Estonian National Statistics Board. At the same time, the value of life & non-life paid claims and indemnities remained approximately around last year's value (~ EUR 200 million)
13 September 2023ESTONIA: LKF: For the first time, driver assistance systems have a positive impact on damage to passenger vehicles
In 1H2023, 16,900 traffic insurance events took place in Estonia, of which 12,300 or 73% were caused by passenger vehicles.
31 August 2023ESTONIA: LKF: the number of road accidents caused by elderly drivers has increased by 70%, while young drivers have the highest damage frequency
According to the statistics of the Estonian Traffic Insurance Fund (LKF), the share of road accidents caused by elderly drivers has increased by 70% over the past 10 years.
29 June 2023STATISTICS: Estonian Q1 insurers' business increased to over EUR 150 million
Estonian insurers posted aggregate business worth EUR 154.89 million in Q1 2023, or 18.58% more y-o-y, according to quarterly figures, published by the Estonian National Statistics Board.
7 June 2023ESTONIA: LKF: nearly 21,000 motorcycles and mopeds have been insured to date
According to the Estonian Traffic Insurance Fund (LKF), as of now nearly 21,000 motorcycles and mopeds have been insured, while last year there were 3,000 less, the Association of Estonian Insurance Companies (EKsL) wrote.
3 May 2023ESTONIA: LKF: last year 75% of disputes between insurers and clients ended in an agreement
Last year, traffic insurance intermediaries operating at the Estonian Traffic Fund (LKF) settled 134 disputes between insurers and clients, 75% of which ended in an agreement, the Association of Estonian Insurance Companies (EKsL) wrote.
27 April 2023ESTONIA: Insurance penetration reached 1.5% of GDP last year
The growth drivers of the Estonian insurance market last year were employer's health insurance and private property insurance, including home insurance.
20 April 2023ESTONIA: As of June 1, Estonian Green Card policies no longer valid in Russia and Belarus
From June 1, 2023, a green card policy issued for an Estonian vehicle will not be valid in Russia or Belarus, in its turn a green card policy of Russia and Belarus won't be valid in Estonia or other countries of the European Economic Area.
13 April 2023ESTONIA: last year the largest increase of frauds was recorded in home insurance
According to the Estonian Insurance Association (EKsL), last year 506 insurance frauds were proven with an attempt to defraud EUR 1.4 million. The largest increase of frauds was recorded in home insurance.
6 April 2023ESTONIA: water damage to neighbors was the most frequent case of liability insurance last year
According to the Association of Estonian Insurance Companies (EKsL), insurance companies paid for 29,400 home insurance events last year. This included 1,700 liability insurance cases related to home insurance, where damage was mostly caused to a neighbor. If the average loss in home insurance was EUR 1,430, in liability insurance it reached EUR 1,720.
6 April 2023STATISTICS: Estonian insurers YE 2022 business exceeded half billion euro
Last year, Estonian insurance market totaled EUR 550.90 million in terms of GWP, up by 13.26% y-o-y, according to FY2022 market figures published by the Estonian National Statistics Board.
8 March 2023ESTONIA: rapid growth of private health insurance continued last year
According to the statistics of the Association of Estonian Insurance Companies (EKsL), last year 1,260 employers purchased additional health insurance, insuring a total of 48,400 employees. The number of contracts increased by 52% over the year, and the number of insured employees increased by 72%, the press-release said.
28 February 2023ESTONIA: a new type of insurance dispute arose last year due to rapid inflation
According to the Estonian Traffic Insurance Fund (LKF), insurance mediators resolved 293 disputes last year, 171 of which ended with an agreement between insurance companies and clients. The number of home insurance, comprehensive insurance and travel insurance disputes increased the most. The largest disputed amount was EUR 176,500 and the smallest was EUR 90.
16 February 2023ESTONIA: 2022 was a record year in terms of traffic accidents and total losses
According to the Estonian Traffic Insurance Fund (LKF), in 2022 over 38,000 traffic accidents occurred in Estonia, which is the highest number ever. Last year's total losses exceeded EUR 80 million, which is also the largest in history.
19 January 2023
