STATISTICS: ESTONIA's insurance market posts 4.6% half-year growth in GWP

The insurers activating on the Estonian market reported total gross written premiums of EUR 178 million at the end of June 2015, up by 4.6% y-o-y, according to the market figures published by the Estonian National Statistics Board. At the same time, the value of paid claims was up by 7.1% y-o-y to EUR 99 million.

On insurance classes, the total value of GWP on the life segment increased by 1.7% y-o-y, totaling EUR 41.2 million (23.1% of the total market), of which EUR 16.6 million was reported on unit-linked life insurance sub segment. Among the insurance companies, out of all five life insurers, the market leader was SWEDBANK Life Insurance SE (40.8% market share), followed by SEB Elu- ja Pensionikindlustuse AS (23%) and COMPENSA Life VIG SE (19.5%).

Estonian general insurers posted gross written premiums of EUR 137 million, 5.5% more y-o-y. The largest weights in GWP were reported by Motor Hull sub-class (EUR 46.5 million, 26.1% of total GWP), property insurance (EUR 35.7 million, 20.0%) and Motor TPL (EUR 35 million, 19.7%). Estonia's market leader in non-life insurance was If P&C Insurance AS (27.2% market share), followed by ERGO Insurance SE (17%) and SWEDBANK P&C Insurance AS (approximately 15%).

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. The FSA figures reflect the performance of the insurers registered in Estonia - including their cross- border business.

Access and download the 1H2015 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
More about the Estonian insurance market evolution in 1H2015 will be available in the forthcoming issue of XPRIMM Insurance Report 1H2015, to be released on October, 18th, on the occasion of the Baden-Baden XPRIMM Reception (Kurhaus Casino, Runder Saal, 18:30 - 20:30 hours).

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.



ALLIANZ announced three executives appointments

German insurance Group ALLIANZ announced three senior leadership appointments at ALLIANZ DIGITAL Health, ALLIANZ Private Krankenversicherung and Allianz Global Corporate & Specialty SE.



Inclusive insurance on the agenda of the second CEE & SEE - Regional Actuarial Insurance Conference in Skopje, Macedonia

Insurance should be accessible to all social classes, regardless of their wealth and income status. Products offered today are conventional insurance products, largely inspired from the developed markets as "one-size-fits-all" solutions, affordable to only middle- and high-income clients in the Eastern Europe's emerging & developing markets. The low insurance penetration rates across the region show the need for another approach.


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.


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.


See all