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.

The total value of GWP for the life segment decreased by 4.08% y-o-y to EUR 20.53 million, while the value of non-life GWP totaled EUR 134.36 million, up by 21.17% y-o-y.

The aggregate value of insurance claims paid by local and other EU branches remained at the Q1 2022 level, (+0.50% y-o-y to EUR 99 million), of which EUR 20 million related to life segment, the remaining EUR 79 million being accounted by the non-life subclasses.

Among the five life insurers, the market leader was SWEDBANK Life Insurance SE (~45.64% market share), while Estonia's market leader on the non-life insurance segment was Swedbank P&C Insurance (17.30%) ahead of the former leader If P&C Insurance (17.17%).

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