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 www.xprimm.com 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.

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