BMI View: Estonia's insurance market, and particularly the country's life insurance segment, is at an earlystage of development. The nascent life segment is not expected to record much growth over 2017-2018, aprojection due largely to widespread unawareness among consumers of the benefits of life insurance. Thenon-life segment, on the other hand, is set to benefit from increases in disposable income levels, whichshould transfer to rising demand for motor, property and personal accident insurance in particular. Thelong-term growth potential of both major markets will, however, be limited due to the small size of theEstonian population.
Key Updates And Forecasts
Accounting for just 19% of all activity in Estonia's insurance sector, the country's life segment isconsiderably smaller than its non-life counterpart. In 2017, life premiums are expected to fall by 1.8% toEUR84mn (USD88mn). Growth through to 2021 should remain static, resulting in total written lifepremiums of EUR84mn (USD84mn) by the end of our forecast period.
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