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%




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Estonia 1H2020 Market Portfolio

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Estonia 1H2020 Insurance Companies Rankings

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Latest news

ESTONIA 1H2013: impressive GWP growth rates, but scarce profitability

The Estonian insurance market ended the first half of 2013 with impressive growth rates in terms of GWP, but with less impressive results as far as profitability is concerned. Thus, according to data provided by the Financial Supervision Authority in Estonia, the total GWP amounted to EUR 217.55 million, 23.6% up y-o-y. At the same time, the consolidated net profit for life insurance decreased from EUR 12.73 million in 1H2012 to EUR 4.11 million in 1H2013, while the same indicator for non-life insurance fell from EUR 31.45 million in 1H2012.

ESTONIA, 1Q2013: The double-digit growth rate pushed the market to EUR 110 million

In January-March 2013, the gross written premiums of insurance companies in Estonia increased by 23.75%, reaching EUR 110 million, compared with total volume of premiums in the correspondent period of 1Q2012. Claims paid by insurers amounted to EUR 61.30 million according to official data published by the Financial Supervision Authority of Estonia.

CIG Pannonia unit to begin operations to BALTIC states

CIG Pannonia First Hungarian General Insurance (EMABIT), the 100% non-life insurance unit of Hungary's CIG Pannonia Life Insurance, will begin operations in Estonia, Latvia and Lithuania, CIG Pannonia Life Insurance announced on Friday.

ESTONIA: life premiums up 15% in February

Estonian insurance companies collected in February 5.6 million euros in life insurance premiums, 14.7 percent more than in the same month of the previous year.

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

Estonian 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.

ESTONIA, 1H2012: Double digit increase in GWP

Estonian insurance companies underwrote about EUR 176 million during the first half of the current year, according to the figures published by Financial Supervision Authority of Estonia, representing an 11.4% increase compared to June 2011. Paid claims have increased by 1.2% reaching EUR 99 million.

Stagnation for ESTONIAN market in 1Q2012

In January-March 2012, the gross written premiums of insurance companies in Estonia increased slightly, by 0.14%, reaching EUR 104.82 million, compared with total underwritings in the correspondent period of 1Q2011. Claims paid by insurers amounted to EUR 63.96 million according to official data published by the Financial Supervision Authority of Estonia. At the end of March, underwritings on life insurance decreased by 18.17% y-o-y, reaching EUR 34.12 million. At the same time Estonian general insurers totaled EUR 70.70 million, increasing in absolute value by about EUR 7.72 million.

ESTONIA, FY 2011: Again "in the red" after joining the Euro zone

Maybe it has nothing in common, but after joining the Euro zone in 2011, as its 17th member, the Estonian insurance market re-entered on a descend path, with its GWP volume dropping by 6% in comparison with the previous year. In 2010, Estonian insurers managed to place a positive result, with a 16% growth in GWP, a quite impressive result following to 1.3% decrease registered in 2009. On the claims side, Estonian insurers paid EUR 269.4 million in 2011.

ESTONIA: QBE Insurance decided to stop activities

QBE Insurance Europe Limited has, following a strategic market review, decided to stop concluding new insurance contracts by its Estonians branch office. "Its existing book will be placed into run off and the company will continue to perform its obligations under existing insurance contracts", the company announced in a press release.

ESTONIA: Insurers ascertained 327 fraud cases in 2011

Insurance companies ascertained 327 insurance fraud cases in Estonia in 2011 while 1.88 million euros worth of fraud was prevented with the help of preventive measures, LETA/National Broadcasting reports.