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:




Flag



Location map
author: OCHA/ReliefWeb


 


Statistics

Estonia Timelaine 2008-2017

Estonia FY2018 Market Portfolio

See all statistics

Latest news

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.


Austrian Vienna Insurance Group to enter Estonian market

According to Peter Hagen, CEO of the owner of life insurance company Compensa Life, Austrian insurance company Vienna Insurance Group (VIG), the group will enter the Estonian insurance market next year, the daily Postimees reports on Monday.

ESTONIA 1H2013: impressive GWP growth rates, but scarce profitability

The Estonian insurance market ended the first half of 2013 with impressive growth rates in terms of GWP, but with less impressive results as far as profitability is concerned. Thus, according to data provided by the Financial Supervision Authority in Estonia, the total GWP amounted to EUR 217.55 million, 23.6% up y-o-y. At the same time, the consolidated net profit for life insurance decreased from EUR 12.73 million in 1H2012 to EUR 4.11 million in 1H2013, while the same indicator for non-life insurance fell from EUR 31.45 million in 1H2012.

ESTONIA, 1Q2013: The double-digit growth rate pushed the market to EUR 110 million

In January-March 2013, the gross written premiums of insurance companies in Estonia increased by 23.75%, reaching EUR 110 million, compared with total volume of premiums in the correspondent period of 1Q2012. Claims paid by insurers amounted to EUR 61.30 million according to official data published by the Financial Supervision Authority of Estonia.





CIG Pannonia unit to begin operations to BALTIC states

CIG Pannonia First Hungarian General Insurance (EMABIT), the 100% non-life insurance unit of Hungary's CIG Pannonia Life Insurance, will begin operations in Estonia, Latvia and Lithuania, CIG Pannonia Life Insurance announced on Friday.

ESTONIA: life premiums up 15% in February

Estonian insurance companies collected in February 5.6 million euros in life insurance premiums, 14.7 percent more than in the same month of the previous year.


ESTONIAN insurers' 3Q2012 GWP rise 11% y-o-y

Estonian insurance companies posted total gross written premiums of EUR 259 million at the end of September, 2012, 10.9% up as compared with the previous year, according to quarterly market data published by the Financial Supervision Authority. Paid claims have increased by 2%, reaching EUR 145 million.