Estonian insurers reported January-September 2022 aggregate GWP worth EUR 405.77 million, 13.08% more y-o-y or ~EUR 47 million in absolute value, according to the market figures published by the Estonian National Statistics Board. Total paid claims by local insurers increased by 7.40% y-o-y to EUR 288.82 million.

The life insurance segment was down by 3.56% y-o-y to EUR 58.10 million (~14.32% of total GWP) due to double-digit decreases reported by endowment insurance (-10.24% y-o-y) and pension insurance (-33.96% y-o-y).

At the same time, total GWP reported on non-life insurance classes amounted to EUR 347.66 million (+16.343% y-o-y), of which EUR 112.34 million - MoD, EUR 96.20 million - property insurance, and EUR 76.59 million - Motor TPL.

The largest life insurer in the country in terms of GWP remained SWEDBANK Life Insurance SE (47.93% market share), while If P&C Insurance As (19.00%) lead the non-life insurance segment.

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

Access XPRIMM Database and download the 3Q2022 Estonian insurance market statistics.