STATISTICS: Estonian insurers posted YE2021 aggregate GWP of almost half billion euro

23 February 2022 — Andrei Victor
Last year, Estonian insurance market totaled EUR 486.3 million in terms of GWP, up by 3.7% y-o-y, according to FY2021 market figures published by the Estonian National Statistics Board. The life insurance segment increased by 1.5% y-o-y to EUR 86.8 million, while in the case of non-life insurance market, the GWP amounted to EUR 399.5 million (82.1% of total), up by 4.2% y-o-y.

In terms of claims, insurers paid claims worth EUR 355.5 million, up by 28.4% y-o-y or by EUR 78.7 million in absolute values due to 77% growth rate reported by the life insurance segment.

Estonia's largest market player in terms of GWP was Swedbank Life Insurance SE (44.6% market share), followed by SEB Life and Pension Baltic SE Eesti filiaal (23.6%) and COMPENSA Life VIG SE (16.5%).

In non-life segment, Top 3 market players as GWP volume was: If P&C Insurance AS (GWP of EUR 78 million), followed by Swedbank P&C Insurance AS (EUR 69.7 million) and ERGO Insurance SE - EUR 67.6 million.

Access and download the latest Estonian insurance market statistics.

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