STATISTICS: ESTONIAN insurance market up 7.9% y-o-y in 3Q2014

Insurers active on Estonian market posted total gross written premiums of EUR 253.5 million at the end of September 2014, 7.9% up as compared with the previous year, according to quarterly market figures published by the Estonian National Statistics Board. At the same time, the value of paid claims remained almost unchanged a year ago, reaching EUR 135.7 million.

On insurance classes, the total value of GWP on the life segment increased by 11.6% y-o-y, totalling EUR 58.6 million (23.1% of the total market), of which almost EUR 25 million was reported on unit-linked life insurance subsegment.

At the same time, Estonian general insurers totaled EUR 195 million, increasing in absolute value by about EUR 12.4 million. Among all non-life insurance classes, the largest weights in GWP were reported by motor hull (EUR 68.1 million, 26.9% of total GWP), property insurance (EUR 50.7 million, 20.0%) and Motor TPL (EUR 50.1 million, 19.8%).

Of all five life insurers, the market leader was SWEDBANK Life Insurance SE (36.7% market share), followed by SEB Elu- ja Pensionikindlustuse AS (23.3%) and COMPENSA Life VIG SE (18.5%).

Estonia's market leader in non-life insurance was If P&C Insurance AS, which collected EUR 51 million of premiums in nine months. ERGO Insurance SE reported EUR 30.6 million followed by SWEDBANK P&C Insurance AS - EUR 28.3 million. Top 3 non-life insurers generated 56.4% of non-life GWP.

It is important to note:

According to the 3Q2014 insurance statistics published by the Financial Supervision Authority in Estonia - FSA, the total GWP reported by the insurers registered in Estonia totaled more than EUR 333 million, 4% more y-o-y. It is worth to mention that, the FSA figures reflects the performance of the insurers registered in Estonia - including their cross- border business.

The figures publisehd by the Estonian National Statistics Board - reflects the performance of Estonian insurers and other EU branches - for the insured risks only in Estonia.

Access www.xprimm.com and download the 3Q2014 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