STATISTICS: ESTONIA, FY2016: Non-life lines saw the best results, driving up the market results

2 February 2017 — Vlad BOLDIJAR
Insurers operating on the Estonian market reported total GWP of EUR 388 million for the financial year 2016, up by 7.4% y-o-y, according to the market data published by the Estonian National Statistics Board. The value of life GWP increased by 3.9% y-o-y, to EUR 85.7 million (22.1% of the total market), while Estonian general insurers posted GWP of EUR 302.3 million, 8.5% more y-o-y.

The largest poerfolio shares in non-life were reported by MoD sub-class (EUR 102 million), property insurance (EUR 76,6 million) and Motor TPL (EUR 79 million).

On the life segment, the largest share was held by unit-linked products (GWP of EUR 29.1 million), followed by pension insurance (EUR 22.7 million).

Estonia's market leader in non-life insurance was If P&C Insurance AS (23.1% market share), followed by ERGO Insurance SE (16.5%) and SWEDBANK P&C Insurance AS (15.7%).

Out of all five life insurers, the Top 3 was formed by SWEDBANK Life Insurance SE (39.3% market share), followed by SEB Elu- ja Pensionikindlustuse AS (24.9%) and COMPENSA Life VIG SE (23%).

It is important to note: The figures published by the Estonian National Statistics Board reflect the performance of Estonian insurers and other EU branches - for the insured risks only in Estonia. The FSA figures reflect the performance of the insurers registered in Estonia - including their cross- border business.

Access and download the FY2016 Estonian insurance market statistics.

Market portfolio:
  • Gross written premiums
  • Paid claims 
  • Growth rates
Life and non-life rankings:
  • Gross written premiums
  • Paid claims 
  • Market shares