Estonia
ESTONIA: Motor insurers may save billions thanks to the DriveX technology
Estonian start-up DriveX comes with a new technology that would help car insurance companies to save billions, reports www.businessworldreport.com.
29 October 2020STATISTICS: ESTONIA, 1H2020: Negative rates in life and motor lines influenced the half-year decline of the market
Estonian insurers reported H1 2020 GWP of EUR 235.79 million, 5.49% less compared with January-June 2019, according to the market figures published by the Estonian National Statistics Board.
27 August 2020STATISTICS: ESTONIA, 1Q2020: Market compressed by 1.6% y-o-y million to EUR 120 million
Estonian insurers reported GWP of EUR 120 million in Q1 2020, or EUR 2 million less y-o-y, according to quarterly figures published by the Estonian National Statistics Board. The total value of GWP for the life segment decreased by 13.7% y-o-y to EUR 20.6 million, while the value of non-life GWP totaled EUR 99.5 million, up by 1.2% y-o-y.
9 July 2020PZU's Estonian branch: Coronavirus related travel insurance claims growing fast
Estonian PZU Kindlustus, part of the PZU Group, has already paid out some EUR 100,000 in travel insurance claims related to the coronavirus outbreak, the local press reports. The company representatives said the number of claims has lately exceeded 50 per day in several occasions.
31 March 2020ESTONIA: 2019 MTPL prices decreased 5% in spite of increasing motor events
According to the statistics of the Estonian Motor Insurance Bureau (LKF), in 2019, the average annual premium for motor third party liability (MTPL) insurance was EUR 134, decreasing by EUR 8 (-5%) year-on-year.
19 February 2020STATISTICS: ESTONIA, FY2019: Insurance market compressed by more than 10% due to decreases reported on non-life subclasses
Last year, the Estonian insurance market posted aggregate GWP worth of EUR 493.83 million, 10.56% down compared with the previous year, according to FY2019 preliminary market figures published by the Estonian National Statistics Board.
6 February 2020ESTONIA: FSA and Guarantee Fund merged together
From the beginning of 2020, the Financial Supervision Authority (FSA) and the Guarantee Fund of Estonia will operate under one roof. The merger will help the Guarantee Fund to fulfill its statutory objectives more quickly and efficiently and save costs.
9 January 2020ESTONIA: Siim TAMMERI joins FSA Management Board
Estonian Finantsinspektsioon (FSA) announced the appointment of Siim TAMMERI as the new member of the Management Board, effective from January 1st, 2020.
12 November 2019STATISTICS: ESTONIA: 9 months insurers' GWP rises EUR 10 million vs. 3Q2018
Estonian insurers posted aggregate GWP of EUR 366.6 million at the end of September 2019, up by EUR 10 million as compared with 3Q2018, according to quarterly market figures published by the Estonian National Statistics Board.
31 October 2019STATISTICS: Estonian insurance market exceeded EUR 200 million at the end of June
Estonian insurers reported end-June GWP of EUR 250 million, almost 3% more compared with H1 2018, according to the market figures published by the Estonian National Statistics Board.
26 September 2019STATISTICS: ESTONIAN insurance market ended Q1 in "red"
Estonian insurers reported GWP of EUR 122 million in Q1 2019, representing an 3% y-o-y decrease, according to quarterly figures published by the Estonian National Statistics Board.
11 July 2019ESTONIA: 13,000 property insurance events annually
According to The Estonian Insurance Association (EKsL), 13,000 property claims arise over the course of an average year in Estonia. Of this number, about 11,000 are home insurance claims. Insurance companies in Estonia pay around EUR 28 million every year for property claims.
27 June 2019ESTONIA: Jan-March: growth of motor insurance prices is slowing down
According to the statistical data of the Estonian Motor Insurance Fund (LKF), growth of motor insurance prices is slowing down, which is confirmed by their increase only by 1% in the 1st quarter of 2019 y-o-y, as the Fund informed on its official website on May 15.
16 May 2019Estonia to start supporting farmers with insurance payments in June
8 May 2019UPDATE: Estonia officially adopted the law on mutual insurers and insurance cooperatives
Starting March 2nd 2019, commercial associations in Estonia are allowed to perform insurance activities inside country borders, under the title of insurance associations. The Amendment on Insurance Activities Act, the law governing the insurance market in Estonia, applies the regulation for insurance associations as well.
14 March 2019Estonia opens its market to mutual and cooperative insurance
10 March 2019STATISTICS: BALTICS, 2008-2017 timeline: evolution of the regional consolidated results is in line with the CEE average
The Baltic countries - Estonia, Latvia and Lithuania -, have recorded between 2008-2017 a trend similar to the other CEE markets. The same main pattern can be distinguished, splitting the evolution of the market in three periods: decline (2008-2010), recovery (2010-2013) and growth (2013-2017).
14 February 2019STATISTICS: ESTONIA, FY2018: Insurers' reorganization in the Baltic region influences the local market dynamic
Insurers operating on the Estonian market reported total GWP of EUR 552 million for the financial year 2018, up by 29.2% y-o-y, according to the market data published by the Estonian National Statistics Board.
12 February 2019The Estonian Parliament has approved the new law over mutual insurers and insurance cooperatives
The Parliment of Estonia, Riigikogu, has approved the text of the new law on insurance activities. Today, only a few types of companies have the right to do insurance business inside Estonia. The new law will permit specific commercial associations to act as insurers too.
7 February 2019ESTONIA: Road traffic accidents decreased in 2018 according to LKF
During 2018 there were 35,251 road motor incidents in Estonia, the lowest number in the past 4 years. While the number of incidents decreased, the average claim has increased in value by 11,62% compared to 2017.
7 February 2019
