Estonia
Estonia opens its market to mutual and cooperative insurance
10 March 2019STATISTICS: BALTICS, 2008-2017 timeline: evolution of the regional consolidated results is in line with the CEE average
The Baltic countries - Estonia, Latvia and Lithuania -, have recorded between 2008-2017 a trend similar to the other CEE markets. The same main pattern can be distinguished, splitting the evolution of the market in three periods: decline (2008-2010), recovery (2010-2013) and growth (2013-2017).
14 February 2019STATISTICS: ESTONIA, FY2018: Insurers' reorganization in the Baltic region influences the local market dynamic
Insurers operating on the Estonian market reported total GWP of EUR 552 million for the financial year 2018, up by 29.2% y-o-y, according to the market data published by the Estonian National Statistics Board.
12 February 2019The Estonian Parliament has approved the new law over mutual insurers and insurance cooperatives
The Parliment of Estonia, Riigikogu, has approved the text of the new law on insurance activities. Today, only a few types of companies have the right to do insurance business inside Estonia. The new law will permit specific commercial associations to act as insurers too.
7 February 2019ESTONIA: Road traffic accidents decreased in 2018 according to LKF
During 2018 there were 35,251 road motor incidents in Estonia, the lowest number in the past 4 years. While the number of incidents decreased, the average claim has increased in value by 11,62% compared to 2017.
7 February 2019STATISTICS: ESTONIA, 3Q: Motor and property policies accounted for 70% of the market's GWP
Estonian insurance market totaled EUR 357 million at the end of September 2018, up by 13.7% y-o-y, according to quarterly market figures published by the Estonian National Statistics Board.
5 December 2018SEB to merge its three Baltic life units
SEB - one of the largest life insurers in Baltic region announced is planning to merge its units in the Baltic States, "into one legal entity to further improve our operational efficiency and deliver improved customer services. The merger will not affect our services to the customers".
8 November 2018VIG's Baltic unit SEESAM Insurance AS - 10% GWP increase in 3Q
Estonian non-life insurer SEESAM, one of last entered players in the VIG family, raised its GWP in the Baltic states by 10% y-o-y, to EUR 54.1 million, informs LETA, quoting Dace ZITMANE, marketing manager at the Latvian branch of the company.
1 November 2018Seesam non-life insurer raises premiums in Baltics by 10% in nine months
31 October 2018STATISTICS: ESTONIA, 1H: Insurers reported impressive rates across all LoB
Estonian insurers reported H1 2018 GWP of EUR 243 million, almost 17% more compared with January-June 2017, according to the market figures published by the Estonian National Statistics Board.
30 August 2018ESTONIA: Government plans to support risk management in organic farming by subsidizing insurance premiums
As part of a Governmental plan to support organic farming, Estonian farmers involved in this segment will benefit starting 2019 from a 70% contribution of the State to the premiums paid by farmers in crop insurance, livestock and plant insurance, if the Ministry of Rural Affairs proposal will be approved.
23 August 2018STATISTICS: ESTONIA Q1: The insurance market expanded by more than a quarter
Estonian insurers reported in Q1 2018 GWP of EUR 125.7 million, representing an 26.1% y-o-y increase, according to the quarterly figures published by the Estonian National Statistics Board.
20 June 2018STATISTICS: ESTONIA, FY2017: Non-life business pushed the market growth-rate in the "double digit area"
Estonian insurers reported aggregate FY2017 GWP of EUR 427.3 million, up
by 10.1% y-o-y, according to the market figures revealed on the website
of the Estonian National Statistics Board.
8 February 2018STATISTICS: ESTONIA, 3Q: The two motor segments generate about half of the insurance market
Estonian insurance market totaled EUR 315 million at the end of September 2017, up by 10.6% y-o-y, according to quarterly market figures published by the Estonian National Statistics Board.
15 November 2017Estonia to adopt the Insurance Distribution Directive
At the end of October, the Estonian Parliament passed a bill of amendments to the Insurance Activities Act initiated by the government, according to which the European Union's Insurance Distribution Directive (IDD) will be adopted, informs LETA/BNS, quoted by The Baltic Course.
9 November 2017STATISTICS: ESTONIAN market posted H1 impressive growth rates across all main subclasses
Estonian insurers reported H1 2017 GWP of EUR 207.8 million, 9.5% more compared with January-June 2016, according to the market figures published by the Estonian National Statistics Board.
24 August 2017STATISTICS: ESTONIA: GWP up to EUR 100 million in Q1 2017
Estonian insurers reported in Q1 2017 GWP of EUR 99.7 million, up 8.6% y-o-y, according to the quarterly figures published by the Estonian National Statistics Board.
15 June 2017ESTONIA allows self-driving cars on the roads
Estonia has allowed the testing of self-driving cars on the country's roads; however, an additional condition is that the vehicle must also have a driver who can take control if needed.
9 March 2017STATISTICS: 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.
2 February 2017STATISTICS: ESTONIAN insurers' GWP up by almost 7% y-o-y in 3Q
Estonian insurers posted aggregate GWP of EUR 285 million at the end of September, up by 6.7% y-o-y, according to quarterly market figures published by the Estonian National Statistics Board. The total value of life GWP was down by 0.4% y-o-y to EUR 60.2 million, while the non-life segment totaled EUR 224.8 million, or 8.7 %more y-o-y.
8 December 2016
