STATISTICS: ESTONIA, FY2014: Local market reported increases on almost all business lines

Last year, the Estonian insurance market posted total gross written premiums of EUR 341 million, 7.5% up compared with the previous year, according to FY2014 preliminary market figures published by the Estonian National Statistics Board. Claims paid during the period were up by 3.5% to EUR 189.5 million due to the 5% increase reported on the general insurance segment.

It's worth mentioning that, with the exception of three particular segments (endowment insurance, birth and marriage insurance and financial loss insurance), the local insurance industry reported growth rates in GWP on all classes.

On the life insurance segment (EUR 79.6 million, about 23.3% of total market), the unit-linked sub-class was the largest (EUR 32.9 million), followed by pension insurance (EUR 16.4 million) and endowment policies (EUR 16.2 million). Overall, the life insurance sector reported a 9.3% increase in GWP.

In the case of non-life insurance market, the GWP amounted to EUR 261.4 million (76.7% of total), 7% more y-o-y. In terms of GWP, the largest share in total market were reported for the following sub-classes: Motor Hull (GWP of EUR 92.3 million, 27% of total market), MTPL (EUR 66.4 million, 19.5%) and property insurance (EUR 68.2 million, 20%).

Of all five life insurers, Estonia's market leader in life insurance was SWEDBANK Life Insurance SE (37% market share), followed by SEB Elu- ja Pensionikindlustuse AS (23.6%) and COMPENSA Life VIG SE (18.8%).

The country's leading player in the non-life segment was If P&C Insurance AS (GWP of EUR 67.4 million), followed by ERGO Insurance SE (EUR 41.4 million) and SWEDBANK P&C Insurance AS - EUR 38.8 million.

It is important to note: The figures published by the Estonian National Statistics Board - reflect the performance of Estonian insurers and other EU branches - for the insured risks only in Estonia.

Access www.xprimm.com and download the FY2014 Estonian insurance market.

Market portfolio:
  • Gross written premiums
  • Paid claims 
  • Growth rates
Life and non-life rankings:
  • Gross written premiums
  • Paid claims 
  • Market shares
  • Growth rates

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

Estonia to adopt the Insurance Distribution Directive

At the end of October, the Estonian Parliament passed a bill of amendments to the Insurance Activities Act initiated by the government, according to which the European Union's Insurance Distribution Directive (IDD) will be adopted, informs LETA/BNS, quoted by The Baltic Course.

2017-11-09

STATISTICS: ESTONIA, FY2016: Non-life lines saw the best results, driving up the market results

Insurers operating on the Estonian market reported total GWP of EUR 388 million for the financial year 2016, up by 7.4% y-o-y, according to the market data published by the Estonian National Statistics Board. The value of life GWP increased by 3.9% y-o-y, to EUR 85.7 million (22.1% of the total market), while Estonian general insurers posted GWP of EUR 302.3 million, 8.5% more y-o-y.

2017-02-02

ON THE MOVE

MARSH the formation of MARSH-JLT Specialty and its leadership

The global insurance broker MARSH announced the formation of MARSH-JLT Specialty - the new specialty business that combines the specialty teams of MARSH and JARDINE LLOYD THOMPSON Group (JLT) and will be headed by Dominic BURKE, currently CEO of JLT Group.

21.11.2018

TOP EVENT

Reducing the risks in agriculture by using insurance means, discussed in Skopje

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.

06.11.2018

IIF 2018 - Insurance in a DIGITAL WORLD

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.

05.11.2018

See all