Estonia

Location:
- Eastern Europe, bordering the Baltic Sea and Gulf of Finland;
- Neighbours: Finland, Russia, Latvia.

Climate:
- maritime;
- wet, moderate winters;
- cool summers.

Natural hazards:
- floods in the spring;

European Union:
EU member, since 2004

Currency: Euro

Code: EUR
Since: 2011
- replaced Estonian kroon (EEK)

1 EUR = 15.6466 EEK (fixed)

Sources:




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Location map
author: OCHA/ReliefWeb


 


Statistics

Estonia Timelaine 2008-2017

Estonia FY2018 Market Portfolio

See all statistics

Latest news

STATISTICS: ESTONIA's insurance market is expanding steadily

Last year, the Estonian insurance market posted total gross written premiums of EUR 361.2 million, up by 6% y-o-y, according to FY2015 preliminary market figures published by the Estonian National Statistics Board. Claims paid during the period were up by 9.2% y-o-y to EUR 207 million. It's worth mentioning that 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.


STATISTICS: ESTONIAN insurers' GWP rises 5.4% in Jan-Sept

Estonian insurers posted aggregate GWP of EUR 267 million at the end of September 2015, up by 5.4% y-o-y, according to quarterly market figures published by the Estonian National Statistics Board. Of all five life insurers, the market leader was SWEDBANK Life Insurance SE (40.2% market share), while Estonia's market leader in non-life insurance was If P&C Insurance AS (27%).

STATISTICS: ESTONIA's insurance market posts 4.6% half-year growth in GWP

The insurers activating on the Estonian market reported total gross written premiums of EUR 178 million at the end of June 2015, up by 4.6% y-o-y, according to the market figures published by the Estonian National Statistics Board. At the same time, the value of paid claims was up by 7.1% y-o-y to EUR 99 million.

If half-year profit in Baltics reduced by 13% in H1

The insurance company If P&C Insurance AS in Estonia and its subsidiaries in Latvia and Lithuania earned EUR 9.3 million in the first half of the year 2015, which is 13% less than in the respective period last year, when the company's profit reached EUR 10.7 million, as the company informed LETA.


If earns EUR 5.2 mln in Q1 in Baltics

The total profit of the Estonian insurance company If P&C Insurance AS, and its subsidiaries in Latvia and Lithuania, amounted to EUR 5.2 million in the first quarter of 2015, reports LETA, according to If P&C Insurance AS.

STATISTICS: ESTONIA, FY2014: Local market reported increases on almost all business lines

Last year, the Estonian insurance market posted total gross written premiums of EUR 341 million, 7.5% up compared with the previous year, according to FY2014 preliminary market figures published by the Estonian National Statistics Board. Claims paid during the period were up by 3.5% to EUR 189.5 million due to the 5% increase reported on the general insurance segment.

ESTONIAN Air to offer ticket and travel insurance in cooperation with If P&C Insurance

Cooperation between If P&C Insurance and Estonian Air enables the customers of the airline to book ticket and travel insurance on Estonian Air home page together with a flight ticket. Ticket and travel insurance, that are designed specially for Estonian Air customers, can be obtained by one click only.   Ticket insurance is a unique solution in Estonia giving insurance protection for the flight ticket in case of missing the flight. Travel insurance has a larger coverage than traditional insurance product, and is valid all over the world.

STATISTICS: ESTONIAN insurance market up 7.9% y-o-y in 3Q2014

Insurers active on Estonian market posted total gross written premiums of EUR 253.5 million at the end of September 2014, 7.9% up as compared with the previous year, according to quarterly market figures published by the Estonian National Statistics Board. At the same time, the value of paid claims remained almost unchanged a year ago, reaching EUR 135.7 million.

STATISTICS: GWP of Estonian insurers in H1 up by 3.3% to EUR 225 million

Gross insurance premiums reported by the four life insurers and by the eight general insurers operating in Estonia in the first half of 2014 increased by 3.3% compared to the year before to EUR 225 million, according to statistics published by Financial Supervision Authority of Estonia. The value of claims paid by insurers decreased 6.4% y-o-y to EUR 114 million.


FITCH affirms ESTONIA at 'A+'; Outlook Stable

Fitch Ratings has affirmed Estonia's Long-term foreign and local currency Issuer Default Ratings (IDR) at 'A+'. The Outlooks are Stable. The Country Ceiling has been affirmed at 'AAA' and the Short-term foreign currency IDR at 'F1'. KEY RATING DRIVERS Estonia's ratings are underpinned by its strong public finances, economic policy framework and governance indicators.

ERGO transfers management of pension funds in ESTONIA to Nordea

The leading insurance company in the Baltics, ERGO and the largest Nordic financial group Nordea have agreed that the new fund manager of pension funds of ERGO Funds AS in Estonia will be Nordea Pensions Estonia AS. The transfer has been approved by the Estonian Financial Supervision Authority.



The upswing trend established in the Estonian market is the previous quarters continued also in the last three months of the previous year. Thus, the market ended 2013 with a 24% y-o-y growth in GWP, to almost EUR 428 million, driven by the non-life insurance lines which recorded impressive double digit growth rates. At the same time, claims paid by the Estonian insurers in 2013 amounted to EUR 238 million, 16% up y-o-y.

ESTONIA: Life and health insurance promotion through tax incentives needed for dealing with the raising occupational accident statistics

In recent years the number of occupational accidents recorded by the Estonian Labor Inspectorate grew continuously, from about 3.000 in 2009 to approximately 4.000 in 2013. Only last year SEB Elu-ja pensionikindlustus registered 33 occupational accidents, paying its clients over 12.000 euro, the insurers' representatives told the Baltic Course. In this context, Estonian employees are severely under-insured for the risks arising from their occupational profile.

ESTONIA's insurance market rises 24% in 3Q2013

In January-September 2013, the gross premiums written by the Estonian insurance companies increased by 23.7%, reaching EUR 320 million, compared with total GWP in the correspondent period of 2012. Claims paid by insurers amounted to EUR 178.4 million according to official data published by the Financial Supervision Authority of Estonia.

Number of accidents in ESTONIA's most dangrous roundabout down by 40%

While generally traffic re-organisations made by City of Tallinn such as designating special bus lanes have caused motorists much grief, it seems that there is one exception - the notorious Haabersti roundabout in Õismae which is known as Estonia's most dangerous intersection, writes Postimees.