STATISTICS: Estonian Statistics Board, 1Q2015: The GWP for the insured risks in the country increased 4% y-o-y

13 May 2015 — Vlad BOLDIJAR
Estonian insurers reported gross written premiums totaling EUR 87.24 million at the end of March 2015, 4% more 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 increased by EUR 1.29 million in absolute value, up to EUR 51.06 million.

Per insurance classes, the total value of GWP on the life segment was down by 1.10% y-o-y, totaling EUR 19.80 million (22.69% of the total market), of which EUR 7.10 million was reported on the unit-linked life insurance sub segment.

At the same time, the GWP of Estonian general insurers totaled EUR 67.44 million, 5.6% more y-o-y. Among all non-life insurance classes, the largest weights in GWP were reported by motor hull (26.33% of total GWP), property insurance (20.40%) and Motor TPL (18.88%).

Among the five life insurers, the market leader was SWEDBANK Life Insurance SE (36.95% market share), followed by SEB Elu- ja Pensionikindlustuse AS (24.39%) and COMPENSA Life VIG SE (19.81%).

Estonia's market leader on the non-life insurance segment was If P&C Insurance AS (GWP of EUR 18 million), followed by ERGO Insurance SE (EUR 11.51 million) and SWEDBANK P&C Insurance AS - EUR 20.27 million. The Top 3 non-life insurers generated 58.96% of the non-life GWP.

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 reflects the performance of the insurers registered in Estonia - including their cross- border business.

Access and download the 1Q2015 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

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