According to the Association of Estonian Insurance Companies (EKsL)
last year local insurers paid out EUR 33 million for restoration of homes. There were a total of 18 thousand home-related insurance events and half of them caused by pipe leaks with a total loss of EUR 15 million.
According to the Association of Estonian Insurance Companies (EKsL), about 900 employers offered to 30,700 employees supplementary health insurance in 2021. "Thus, almost 5% of all workers now have health insurance", informed EKsL.
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.
According to LKF (the Estonian Traffic Insurance Fund), during 2021 the number of traffic accidents increased by a fifth, while the average traffic damage was EUR 1,960. Thus, last year occurred 35,900, of which 33,200 of them in Estonia and 2,700 cases were caused by Estonian vehicles abroad.
According to the data published
by the Estonian Traffic Insurance Fund (LKF), during the first eleven months of 2021 there were reported about 29 thousand traffic accidents related to Motor TPL policies with a total loss of EUR 51 million. Of this total, about 11 thousand are parking accidents, with a total loss of EUR 12 million, with an average damage per claim file of EUR 1,085.
According to the statistics of the Association of Insurance Companies
, 422 fires in the amount of EUR 7 million have been indemnified under home insurance in the first nine months of this year vs 414 fire indemnities worth EUR 9.4 million paid last year.
Estonian insurers posted Q3 2021 GWP of EUR 359 million, 2.7% more y-o-y or EUR 9.3 million in absolute value, according to the market figures published by the Estonian National Statistics Board.
According to the statistics of the Association of Estonian Insurance Companies
, 149,600 life insurance contracts were in force by the end of 1H2021. Compared to two years ago before the pandemic crisis, 5,500 contracts have been added.
According to the Association of Estonian Insurance Companies
, the employer's health insurance has more than doubled in a year. This year, 510 employers have purchased voluntary health insurance, insuring a total of 20,400 employees. In the middle of last year, only 230 employers insured a total of 7,600 employees.
According LKF statistics (the Estonian Traffic Insurance Fund), a record number of traffic accidents occurred this summer (from June to August): about 8,000 claim files with a total loss of EUR 15 million.
In August, the Estonian Traffic Insurance Fund (LKF) sent 10,300 reminders on termination of MTPL policies. About 60% of those who received reminders, renewed their insurance contracts, LKF said.
According to the statistics of the Estonian Traffic Insurance Fund (LKF), during the first six months of the year 17,080 traffic accidents have occurred, with cars insured by Estonian insurers, which is 25% more than last year. Of this total, 15,790 traffic insurance cases were registered in Estonia and 1,290 abroad.
Estonian insurers reported H1 GWP of EUR 241.5 million, 2.4% more compared with January-June 2020, according to the market figures published by the Estonian National Statistics Board.
In GWP terms, the life segment was down by 2.7% to EUR 40.7 million (16.9% of total GWP), while the GWP by Estonian non-life insurers totaled EUR 200.7 million, 3.5% more y-o-y.
Among the five life insurers, the largest insurer remained SWEDBANK Life Insurance SE (46.1% market share), while If P&C Insurance AS (19.4%) lead the general insurance segment.
This year's hot summer has had its impact on the nation's insurers, some of whom have reported a rise in claims over damages not only relating to storms, but also directly and indirectly to hot weather in general, including traffic accidents and damage to personal items cause by the heat, Estonian ERR information websites reports.
LHV Kindlustus, Estonian LHV Group's recently established non-life insurance unit, ended the first half of the year with a net loss of EUR 388,000. The consolidated net profit of AS LHV Group, including banking, asset management and insurance businesses, reached EUR 24.3 million.
According data provided by LKF (Estonian Traffic Insurance Fund), the number of traffic accidents related to MTPL policies issued by Estonian insurers was 2,570 in May 2021, about 30% more as compared with May 2020.
According to LKF (Estonian Traffic Insurance Fund) statistics
, the MTPL annual average premium fell to EUR 108 in the first quarter of 2021. As comparison, two years ago the same indicator was EUR 145, about 26% less.
Estonian insurers reported a GWP of EUR 118 million in Q1 2021, or 0.94% less y-o-y, according to quarterly figures, published by the Estonian National Statistics Board. The total value of GWP for the life segment increased by 1.87% y-o-y to EUR 20.94 million, while the value of non-life GWP totaled EUR 97.93 million, down by 1.52% y-o-y.
Estonian LHV Kindlustus, has just started the active offering of motor insurance, bringing a domestic alternative to the non-life insurance market occupied by foreign companies, MarketScreener
reports. The company is already providing home insurance, as well as equipment and additional guarantee insurance.
According to the EKsL statistics (Association of Estonian Insurance Companies), last year, local insurers settled about 30 thousand home insurance claims, about one third of them being caused by pipe leaks.