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Estonia 1H2024 Insurance Companies Ranking
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ESTONIA: The winner of the insurance act of the year 2023 to be announced at the insurance conference on October 18
EKsL and the Estonian Insurance Brokers Association are organizing selection of the best act in insurance of the year for the first time. Eight applications were received for the competition, Association of Estonian Insurance Companies (EKsL) informed.
10 October 2023STATISTICS: Estonian insurance market exceeded EUR 300 million at the end of June 2023
Estonian insurers reported H1 2023 GWP worth EUR 318.8 million, 18.4% more compared with January-June 2022, according to the market figures published by the Estonian National Statistics Board. At the same time, the value of life & non-life paid claims and indemnities remained approximately around last year's value (~ EUR 200 million)
13 September 2023ESTONIA: LKF: For the first time, driver assistance systems have a positive impact on damage to passenger vehicles
In 1H2023, 16,900 traffic insurance events took place in Estonia, of which 12,300 or 73% were caused by passenger vehicles.
31 August 2023ESTONIA: LKF: the number of road accidents caused by elderly drivers has increased by 70%, while young drivers have the highest damage frequency
According to the statistics of the Estonian Traffic Insurance Fund (LKF), the share of road accidents caused by elderly drivers has increased by 70% over the past 10 years.
29 June 2023STATISTICS: Estonian Q1 insurers' business increased to over EUR 150 million
Estonian insurers posted aggregate business worth EUR 154.89 million in Q1 2023, or 18.58% more y-o-y, according to quarterly figures, published by the Estonian National Statistics Board.
7 June 2023ESTONIA: LKF: nearly 21,000 motorcycles and mopeds have been insured to date
According to the Estonian Traffic Insurance Fund (LKF), as of now nearly 21,000 motorcycles and mopeds have been insured, while last year there were 3,000 less, the Association of Estonian Insurance Companies (EKsL) wrote.
3 May 2023ESTONIA: LKF: last year 75% of disputes between insurers and clients ended in an agreement
Last year, traffic insurance intermediaries operating at the Estonian Traffic Fund (LKF) settled 134 disputes between insurers and clients, 75% of which ended in an agreement, the Association of Estonian Insurance Companies (EKsL) wrote.
27 April 2023ESTONIA: Insurance penetration reached 1.5% of GDP last year
The growth drivers of the Estonian insurance market last year were employer's health insurance and private property insurance, including home insurance.
20 April 2023ESTONIA: As of June 1, Estonian Green Card policies no longer valid in Russia and Belarus
From June 1, 2023, a green card policy issued for an Estonian vehicle will not be valid in Russia or Belarus, in its turn a green card policy of Russia and Belarus won't be valid in Estonia or other countries of the European Economic Area.
13 April 2023ESTONIA: last year the largest increase of frauds was recorded in home insurance
According to the Estonian Insurance Association (EKsL), last year 506 insurance frauds were proven with an attempt to defraud EUR 1.4 million. The largest increase of frauds was recorded in home insurance.
6 April 2023ESTONIA: water damage to neighbors was the most frequent case of liability insurance last year
According to the Association of Estonian Insurance Companies (EKsL), insurance companies paid for 29,400 home insurance events last year. This included 1,700 liability insurance cases related to home insurance, where damage was mostly caused to a neighbor. If the average loss in home insurance was EUR 1,430, in liability insurance it reached EUR 1,720.
6 April 2023STATISTICS: Estonian insurers YE 2022 business exceeded half billion euro
Last year, Estonian insurance market totaled EUR 550.90 million in terms of GWP, up by 13.26% y-o-y, according to FY2022 market figures published by the Estonian National Statistics Board.
8 March 2023ESTONIA: rapid growth of private health insurance continued last year
According to the statistics of the Association of Estonian Insurance Companies (EKsL), last year 1,260 employers purchased additional health insurance, insuring a total of 48,400 employees. The number of contracts increased by 52% over the year, and the number of insured employees increased by 72%, the press-release said.
28 February 2023ESTONIA: a new type of insurance dispute arose last year due to rapid inflation
According to the Estonian Traffic Insurance Fund (LKF), insurance mediators resolved 293 disputes last year, 171 of which ended with an agreement between insurance companies and clients. The number of home insurance, comprehensive insurance and travel insurance disputes increased the most. The largest disputed amount was EUR 176,500 and the smallest was EUR 90.
16 February 2023ESTONIA: 2022 was a record year in terms of traffic accidents and total losses
According to the Estonian Traffic Insurance Fund (LKF), in 2022 over 38,000 traffic accidents occurred in Estonia, which is the highest number ever. Last year's total losses exceeded EUR 80 million, which is also the largest in history.
19 January 2023ESTONIA: In 10M2022, insurance companies have paid much more as travel insurance benefits than in previous years
According to the Estonian Insurance Companies Association (EKsL), 28 travel insurance disputes between customers and insurers have been registered by the insurance conciliation body this year, which is 17 more than a year ago.
7 December 2022STATISTICS: Estonian insurers' business exceeds EUR 400 million at the end of September
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.
10 November 2022ESTONIA: 30% of the population and only half of borrowers have life insurance
According to the Estonian Insurance Companies Union (EKsL) and Market Research survey, half of Estonians have bank loans. At the same time, a quarter of people would not be able to cope in case of loss of income of one family member.
8 November 2022ESTONIA: Motor Hull price increases driven by the rising claim frequency reaching pre-pandemic levels
Motor Hull prices are on the rise, according to insurance providers, in addition to general inflation, the increase in claims is behind this rise, reaching pre-pandemic levels, err.ee reports.
26 October 2022ESTONIA: the employer's health insurance has more than doubled in 1H
The Association of Estonian Insurance Companies (EKsL) and Turu-uuringute AS conducted a survey, according to which 46% of the population would like to join the employer's additional health insurance, mostly 31-40 year old people and non-Estonians, at the same time a quarter of the population has never heard of such insurance, EKsL said.
16 September 2022
