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.

On the life insurance segment (EUR 82.4 million, about 23% of total market), the unit-linked sub-class was the largest (EUR 31.9 million), followed by pension insurance (EUR 18.9 million) and endowment policies (EUR 15.2 million). Overall, the life insurance sector reported a 3.6% increase in GWP.

Of all five life insurers, Estonia's market leader in life insurance was SWEDBANK Life Insurance SE (40.2% market share), followed by SEB Elu- ja Pensionikindlustuse AS (25%) and COMPENSA Life VIG SE (19.4%).

In the case of non-life insurance market, the GWP amounted to EUR 278.8 million (77% of total), 6.7% more y-o-y. In terms of GWP, the largest share in total market were reported for the following sub-classes: Motor Hull (GWP of EUR 95.6 million, 26.5% of total market), property insurance (EUR 73.5 million, 20.3%) and MTPL (EUR 71 million, 19.7%).

At the end of 2015, the country's leading player in the non-life segment was If P&C Insurance AS (GWP of EUR 74.7 million), followed by ERGO Insurance SE (EUR 46 million) and SWEDBANK P&C Insurance AS - EUR 42.7 million.

Access www.xprimm.com and download the FY2015 Estonian insurance market.

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

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