STATISTICS: Estonian insurers’ GWP expanded to EUR 477 million at the end of Q3 2023

29 November 2023 — Andrei VICTOR
STATISTICS: Estonian insurers’ GWP expanded to EUR 477 million at the end of Q3 2023

Estonian insurers posted January-September 2023 aggregate GWP worth EUR 477 million, 17.5% more y-o-y, according to the market figures published by the Estonian National Statistics Board. Total paid claims by local insurers increased by 4.5% y-o-y to ~EUR 302 million.

Total GWP reported on non-life insurance classes amounted to EUR 416 million (+19.6% y-o-y), of which EUR 135 million – MoD, EUR 116 million – property insurance, and EUR 95.6 million – Motor TPL. At the same time, the life insurance segment was up by 5.2% y-o-y to EUR 61 million (~12.8% of total GWP).

The largest life insurer in the country in terms of GWP remained SWEDBANK Life Insurance SE (46% market share), while Swedbank P&C Insurance AS (18.3%) lead the non-life insurance segment.

Note: The figures published by the Estonian National Statistics Board - reflects the performance of Estonian insurers and other EU branches - for the insured risks only in Estonia.

Access XPRIMM Database and download the 3Q2023 Estonian insurance market statistics.
 

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