In recent years the number of occupational accidents recorded by the Estonian Labor Inspectorate grew continuously, from about 3.000 in 2009 to approximately 4.000 in 2013. Only last year SEB Elu-ja pensionikindlustus registered 33 occupational accidents, paying its clients over 12.000 euro, the insurers' representatives told the Baltic Course. In this context, Estonian employees are severely under-insured for the risks arising from their occupational profile.
In January-September 2013, the gross premiums written by the Estonian insurance companies increased by 23.7%, reaching EUR 320 million, compared with total GWP in the correspondent period of 2012. Claims paid by insurers amounted to EUR 178.4 million according to official data published by the Financial Supervision Authority of Estonia.
While generally traffic re-organisations made by City of Tallinn such as
designating special bus lanes have caused motorists much grief, it
seems that there is one exception - the notorious Haabersti roundabout
in Õismae which is known as Estonia's most dangerous intersection,
Polish insurer PZU SA has official announced expansion into Estonia in a
press conference in Tallinn that was hosted by the company's board
chairman Andrzej Klesyk.
According to Peter Hagen, CEO of the owner of life insurance company
Compensa Life, Austrian insurance company Vienna Insurance Group (VIG),
the group will enter the Estonian insurance market next year, the daily
Postimees reports on Monday.
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.
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.
Estonia will see growth in its motor insurance market after a rise in car sales, according to a report into the sector.
Insurance company ERGO closes 18 offices and makes nearly fifty people
redundant in Estonia in the course of its spring-summer sales network
reform, Aripaev Online reports.
Yesterday Estonia's Financial Supervision Authority (FI) issued an
injunction to Insurance Broker Services, owned by IIZI Group, for
illegally influencing rates offered by insurers.
In 2012, the gross written premiums of insurance companies in Estonia marked a double-digit increase of 10.6% y-o-y. In absolute values, the insurance market has gained in GWP more than EUR 33 million: from EUR 312 million in 2011 to EUR 345 million in December 2012.
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.
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
Insurance companies operating in Estonia ascertained in 2012 a total of
250 insurance fraud cases with which fraudsters tried to get EUR 2.4
million, LETA/Public Broadcasting reports.
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.
All Estonian insurance companies will have to adhere to the unisex
principle when concluding insurance contracts starting from December 21,
2012, the Estonian subsidiary of a banking group SEB said in a
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.
According to a study of the Estonian Traffic Insurance Fund (ETIF),
vehicles that lack valid traffic insurance have caused 5.2 million euros
worth of damages in traffic over the past five years, Public
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.
Owners of scooters need to obtain the traffic insurance to ride the motorbikes after July 1, the Estonian national broadcasting corporation ERR reports.