Estonia
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.
29 July 2021LHV 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.
20 July 2021Estonia: The number of traffic accidents, back to the pre-COVID crisis
According data provided by LKF (Estonian Traffic Insurance Fund), the number of traffic accidents related to MTPL policies issued by Estonian insurers was 2,570 in May 2021, about 30% more as compared with May 2020.
30 June 2021Estonia: MTPL tariff decreased by a quarter in two years
According to LKF (Estonian Traffic Insurance Fund) statistics, the MTPL annual average premium fell to EUR 108 in the first quarter of 2021. As comparison, two years ago the same indicator was EUR 145, about 26% less.
14 June 2021STATISTICS: 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.
27 May 2021Estonian LHV increases its offering on the local non-life insurance market
Estonian LHV Kindlustus, has just started the active offering of motor insurance, bringing a domestic alternative to the non-life insurance market occupied by foreign companies, MarketScreener reports. The company is already providing home insurance, as well as equipment and additional guarantee insurance.
13 May 2021Estonia: Pipe leaks generate one third of home insurance claims
According to the EKsL statistics (Association of Estonian Insurance Companies), last year, local insurers settled about 30 thousand home insurance claims, about one third of them being caused by pipe leaks.
29 April 2021Estonia: February 23, 2021, the day with the most reported traffic accidents in the past eight years
According to the Estonian Insurance Association (EKsL), due to the slipperiness caused by the freezing rain that hitted Estonia, on February 23, 360 traffic accidents covered by MTPL or MoD policies occured, with a total incurred loss of about half million euro.
11 March 2021Estonia: COVID-19 and the mild winter reduced the number of traffic accidents and the MTPL tarrifs
According to the statistics of the Estonian Traffic Insurance Fund (LKF), during last year were reported about 29,700 traffic events subject to MTPL insurance policies, which is 6,400 less than last year.
9 March 2021Estonia: During 2020 conciliators settled 178 insurance disputes
Last year, Estonian insurance conciliators were involved in 257 insurance disputes, of which 178 ended with an agreement between the insurer and the client. Most of disputes were related to MTPL insurance cases, followed by household insurance, as informed in a statement the Estonian Insurance Association (EKsL).
9 March 2021STATISTICS: Estonian insurers' business compressed by 5% last year
Last year, the Estonian insurance market posted aggregate GWP worth of EUR 468.86 million, 5% down compared with the previous year, according to FY2020 market figures published by the Estonian National Statistics Board.
25 February 2021Estonia: LHV Group's insurance unit started operations in January
Estonian LHV Group's recently established non-life insurance unit, LHV Kindlustus started operations in January. The company will service in the near future the LHV Bank customers, thus accessing a base of 264,000 potentially clients.
17 February 2021Estonia: 41% of traffic accidents happen in parking lots
According to the most recent statistics published by Estonian Motor Insurance Bureau, in the first eleven months in 2020, in the country there were about 25,000 traffic insurance accidents subject to insurance, of which 10,300 were related to parking lots.
12 January 2021STATISTICS: ESTONIA, 3Q2020: Insurance market continued to decline
Estonian insurers reported 3Q 2020 GWP of EUR 350 million, 4.66% less compared with January-September 2019, according to the market figures published by the Estonian National Statistics Board.
26 November 2020ESTONIA: Motor insurers may save billions thanks to the DriveX technology
Estonian start-up DriveX comes with a new technology that would help car insurance companies to save billions, reports www.businessworldreport.com.
29 October 2020STATISTICS: ESTONIA, 1H2020: Negative rates in life and motor lines influenced the half-year decline of the market
Estonian insurers reported H1 2020 GWP of EUR 235.79 million, 5.49% less compared with January-June 2019, according to the market figures published by the Estonian National Statistics Board.
27 August 2020STATISTICS: ESTONIA, 1Q2020: Market compressed by 1.6% y-o-y million to EUR 120 million
Estonian insurers reported GWP of EUR 120 million in Q1 2020, or EUR 2 million less y-o-y, according to quarterly figures published by the Estonian National Statistics Board. The total value of GWP for the life segment decreased by 13.7% y-o-y to EUR 20.6 million, while the value of non-life GWP totaled EUR 99.5 million, up by 1.2% y-o-y.
9 July 2020PZU's Estonian branch: Coronavirus related travel insurance claims growing fast
Estonian PZU Kindlustus, part of the PZU Group, has already paid out some EUR 100,000 in travel insurance claims related to the coronavirus outbreak, the local press reports. The company representatives said the number of claims has lately exceeded 50 per day in several occasions.
31 March 2020ESTONIA: 2019 MTPL prices decreased 5% in spite of increasing motor events
According to the statistics of the Estonian Motor Insurance Bureau (LKF), in 2019, the average annual premium for motor third party liability (MTPL) insurance was EUR 134, decreasing by EUR 8 (-5%) year-on-year.
19 February 2020STATISTICS: ESTONIA, FY2019: Insurance market compressed by more than 10% due to decreases reported on non-life subclasses
Last year, the Estonian insurance market posted aggregate GWP worth of EUR 493.83 million, 10.56% down compared with the previous year, according to FY2019 preliminary market figures published by the Estonian National Statistics Board.
6 February 2020
