ESTONIAN motor market to account for two-thirds of GI market by 2017

Estonia will see growth in its motor insurance market after a rise in car sales, according to a report into the sector.

New car sales recorded a growth of 20% in 2012, with 10 500 cars sold compared to 8700 in 2011. A further rise in sales is expected up to 2017.

According to the Timetric report, the rise in sales is expected to drive growth in motor insurance, meaning it will account for 59% of the non-life insurance segment's written premium by 2017.

It is expected the leading non-life companies in Estonia - If P&C Insurance, Seesam Insurance AS and Swedbank Insurance - will expand into offering motor insurance to 2017.

Growth in motor insurance and the non-life insurance segment from 2013 to 2017 will also be supported by compulsory motor third-party liability insurance and motor hull insurance.

Read the full story
Share |