At the end of 2024, the insurance market of Estonia totaled EUR 685.43 million in terms of GWP, up by 7.36% y-o-y, according to the year-end market data published by the Estonian National Statistics Board.

The life insurance segment remained almost at the 2023 level in GWP terms, at EUR 84.02 million, while in the case of non-life insurance market, the GWP amounted to EUR 601.4 million (87.74% of total), up by 8.47% y-o-y.

In terms of claims, insurers paid claims worth EUR 410.19 million, down by 6.5% y-o-y or by EUR 28.4 million in absolute values due to the 46.5% decrease in the indemnities paid by the life insurance segment.

Estonia's largest life insurer in terms of GWP was Swedbank Life Insurance SE (46.2% market share), followed by SEB Life and Pension Baltic SE Eesti filiaal (23.47%) and COMPENSA Life VIG SE (16.86%).

In the non-life segment, Top 3 market players as GWP volume were: Swedbank P&C Insurance AS (EUR 114.93 million) followed by the former leader - If P&C Insurance AS (GWP of EUR 105.19 million) and AB Lietuvos draudimas Eesti filiaal - EUR 93.38 million, which took over the third rank from ERGO Insurance SE.

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