STATISTICS: ESTONIA, FY2016: Non-life lines saw the best results, driving up the market results

Insurers operating on the Estonian market reported total GWP of EUR 388 million for the financial year 2016, up by 7.4% y-o-y, according to the market data published by the Estonian National Statistics Board. The value of life GWP increased by 3.9% y-o-y, to EUR 85.7 million (22.1% of the total market), while Estonian general insurers posted GWP of EUR 302.3 million, 8.5% more y-o-y.

The largest poerfolio shares in non-life were reported by MoD sub-class (EUR 102 million), property insurance (EUR 76,6 million) and Motor TPL (EUR 79 million).

On the life segment, the largest share was held by unit-linked products (GWP of EUR 29.1 million), followed by pension insurance (EUR 22.7 million).

Estonia's market leader in non-life insurance was If P&C Insurance AS (23.1% market share), followed by ERGO Insurance SE (16.5%) and SWEDBANK P&C Insurance AS (15.7%).

Out of all five life insurers, the Top 3 was formed by SWEDBANK Life Insurance SE (39.3% market share), followed by SEB Elu- ja Pensionikindlustuse AS (24.9%) and COMPENSA Life VIG SE (23%).

It is important to note: 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. The FSA figures reflect the performance of the insurers registered in Estonia - including their cross- border business.

Access www.xprimm.com and download the FY2016 Estonian insurance market statistics.

Market portfolio:
  • Gross written premiums
  • Paid claims 
  • Growth rates
Life and non-life rankings:
  • Gross written premiums
  • Paid claims 
  • Market shares

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