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Life Insurance in Estonia, Key Trends and Opportunities to 2019

Life Insurance in Estonia, Key Trends and Opportunities to 2019

Synopsis

Timetric’s 'Life Insurance in Estonia, Key Trends and Opportunities to 2019' report provides detailed analysis of the market trends, drivers, challenges in the Estonian life insurance segment.

It provides key performance indicators such as written premium, incurred loss, commissions and expenses, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of Estonia's economy and demographics, and provides detailed information on the country's competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in regulatory structure.

Summary

Timetric’s 'Life Insurance in Estonia, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Estonian life insurance segment, including:

  • The Estonian life insurance segment’s growth prospects by life insurance category
  • Key trends, drivers and challenges for the life insurance segment
  • A comprehensive overview of Estonia's economy and demographics
  • The various distribution channels in the Estonian life insurance segment
  • Details of the competitive landscape in the life insurance segment in Estonia
  • Details of regulatory policy applicable to the Estonian insurance industry
Scope

This report provides a comprehensive analysis of the life insurance segment in Estonia:
  • It provides historical values for the Estonian life insurance segment for the report’s 2010–2014 review period, and projected figures for the 2014–2019 forecast period.
  • It offers a detailed analysis of the key categories in the Estonian life insurance segment, and market forecasts to 2019.
  • It analyzes the various distribution channels for life insurance products in Estonia.
  • It profiles the top life insurance companies in Estonia, and outlines key regulations affecting them.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Estonian life insurance segment and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Estonian life insurance segment.
  • Assess the competitive dynamics in the life insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Estonian insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • Life insurance accounted for 18.1% of the Estonian insurance industry's gross written premium in 2014.
  • The life segment is highly consolidated, with only four life insurers and an affiliated branch of foreign life insurer..
  • Life insurers in Estonia employ diverse distribution methods, with direct marketing, bancassurance and e-commerce being the leading channels. Insurers operating as subsidiaries of banks and strategic tie-ups between insurers and banks support the growth of bancassurance.
  • Low interest rates forced life insurers in Estonia to terminate guaranteed-return products and shift focus to linked insurance products. In 2014, total linked policies accounted for 63.4% of the life segment’s premium.
  • The aging population and investment-driven consumers will remain the key growth drivers for the life segment over the forecast period.


  • Key Facts and Highlights
    • Table Estonian Life Insurance - Key Facts, 2014
  • Executive Summary
  • Introduction
    • What is this Report About?
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • Economy and Demographics
    • Table Estonian Government Credit Ratings
  • Life Insurance Outlook
    • Key Drivers
      • Table Foreign Direct Investment in Estonia, 2011-2014
    • Key Trends
    • Challenges
    • Life Insurance Growth Prospects by Category
      • Table Estonian Life Insurance - Gross Written Premium by Category (EUR Million), 2010-2014
      • Table Estonian Life Insurance - Gross Written Premium by Category (US$ Million), 2010-2014
      • Table Estonian Life Insurance - Gross Written Premium by Category (EUR Million), 2014-2019
      • Table Estonian Life Insurance - Gross Written Premium by Category (US$ Million), 2014-2019
      • Table Estonian Life Insurance - New Business Direct Written Premium (EUR Million), 2010-2014
      • Table Estonian Life Insurance - New Business Direct Written Premium (EUR Million), 2014-2019
      • Table Estonian Life Insurance - Net Earned Premium (EUR Million), 2010-2014
      • Table Estonian Life Insurance - Net Earned Premium (EUR Million), 2014-2019
      • Table Estonian Life Insurance - Paid Claims (EUR Million), 2010-2014
      • Table Estonian Life Insurance - Paid Claims (EUR Million), 2014-2019
      • Table Estonian Life Insurance - Incurred Loss (EUR Million), 2010-2014
      • Table Estonian Life Insurance - Incurred Loss (EUR Million), 2014-2019
      • Table Estonian Life Insurance - Number of Policies per Capita, 2010-2014
      • Table Estonian Life Insurance - Number of Policies per Capita, 2014-2019
      • Table Estonian Life Insurance - Commissions and Expenses (EUR Million), 2010-2014
      • Table Estonian Life Insurance - Commissions and Expenses (EUR Million), 2014-2019
      • Table Estonian Life Insurance - Net Written Premium as a Percentage of Gross Written Premium (%), 2010-2014
      • Table Estonian Life Insurance - Net Written Premium as a Percentage of Gross Written Premium (%), 2014-2019
      • Table Estonian Life Insurance - Renewal Business Direct Written Premium (EUR Million), 2010-2014
      • Table Estonian Life Insurance - Renewal Business Direct Written Premium (EUR Million), 2014-2019
      • Table Estonian Life Insurance - Total Assets (EUR Million), 2010-2014
      • Table Estonian Life Insurance - Total Assets (EUR Million), 2014-2019
      • Table Estonian Life Insurance - Total Investment Income (EUR Million), 2010-2014
      • Table Estonian Life Insurance - Total Investment Income (EUR Million), 2014-2019
      • Table Estonian Life Insurance - Net Written Premium (EUR Million), 2010-2014
      • Table Estonian Life Insurance - Net Written Premium (EUR Million), 2014-2019
    • Individual Life Insurance
      • Table Estonian Individual Life Insurance - Gross Written Premium by Category (EUR Million), 2010-2014
      • Table Estonian Individual Life Insurance - Gross Written Premium by Category (US$ Million), 2010-2014
      • Table Estonian Individual Life Insurance - Gross Written Premium by Category (EUR Million), 2014-2019
      • Table Estonian Individual Life Insurance - Gross Written Premium by Category (US$ Million), 2014-2019
      • Table Estonian Individual Life Insurance - Direct Written Premium by Category (EUR Million), 2010-2014
      • Table Estonian Individual Life Insurance - Direct Written Premium by Category (US$ Million), 2010-2014
      • Table Estonian Individual Life Insurance - Direct Written Premium by Category (EUR Million), 2014-2019
      • Table Estonian Individual Life Insurance - Direct Written Premium by Category (US$ Million), 2014-2019
      • Table Estonian Individual Life Insurance - Policies by Category (Thousand), 2010-2014
      • Table Estonian Individual Life Insurance - Policies by Category (Thousand), 2014-2019
      • Individual general annuity insurance
        • Table Estonian Individual General Annuity Insurance - Number of Active Policies (Thousand), 2010-2014
        • Table Estonian Individual General Annuity Insurance - Number of Active Policies (Thousand), 2014-2019
        • Table Estonian Individual General Annuity Insurance - Direct Written Premium (EUR Million), 2010-2014
        • Table Estonian Individual General Annuity Insurance - Direct Written Premium (EUR Million), 2014-2019
      • Individual endowment insurance
        • Table Estonian Individual Endowment Insurance - Number of Active Policies (Thousand), 2010-2014
        • Table Estonian Individual Endowment Insurance - Number of Active Policies (Thousand), 2014-2019
        • Table Estonian Individual Endowment Insurance - Direct Written Premium (EUR Million), 2010-2014
        • Table Estonian Individual Endowment Insurance - Direct Written Premium (EUR Million), 2014-2019
      • Individual term life insurance
        • Table Estonian Individual Term Life Insurance - Number of Active Policies (Thousand), 2010-2014
        • Table Estonian Individual Term Life Insurance - Number of Active Policies (Thousand), 2014-2019
        • Table Estonian Individual Term Life Insurance - Direct Written Premium (EUR Million), 2010-2014
        • Table Estonian Individual Term Life Insurance - Direct Written Premium (EUR Million), 2014-2019
      • Individual supplementary insurance
        • Table Estonian Individual Supplementary Insurance - Number of Active Policies (Thousand), 2010-2014
        • Table Estonian Individual Supplementary Insurance - Number of Active Policies (Thousand), 2014-2019
        • Table Estonian Individual Supplementary Insurance - Direct Written Premium (EUR Thousand), 2010-2014
        • Table Estonian Individual Supplementary Insurance - Direct Written Premium (EUR Million), 2014-2019
      • Other individual life insurance
        • Table Estonian Other Individual Life Insurance - Number of Active Policies (Thousand), 2010-2014
        • Table Estonian Other Individual Life Insurance - Number of Active Policies (Thousand), 2014-2019
        • Table Estonian Other Individual Life Insurance - Direct Written Premium (EUR Million), 2010-2014
        • Table Estonian Other Individual Life Insurance - Direct Written Premium (EUR Million), 2014-2019
    • Life Insurance Growth Prospects by Product Type
      • Total linked insurance business
        • Table Estonian Linked Insurance Business - Number of Active Policies (Thousand), 2010-2014
        • Table Estonian Linked Insurance Business - Number of Active Policies (Thousand), 2014-2019
        • Table Estonian Linked Insurance Business - Gross Written Premium (EUR Million), 2010-2014
        • Table Estonian Linked Insurance Business - Gross Written Premium (EUR Million), 2014-2019
        • Table Estonian Linked Insurance Business - Direct Written Premium (EUR Million), 2010-2014
        • Table Estonian Linked Insurance Business - Direct Written Premium (EUR Million), 2014-2019
      • Total non-linked insurance business
        • Table Estonian Non-Linked Insurance Business - Number of Active Policies (Thousand), 2010-2014
        • Table Estonian Non-Linked Insurance Business - Number of Active Policies (Thousand), 2014-2019
        • Table Estonian Non-Linked Insurance Business - Gross Written Premium (EUR Million), 2010-2014
        • Table Estonian Non-Linked Insurance Business - Gross Written Premium (EUR Million), 2014-2019
        • Table Estonian Non-Linked Insurance Business - Direct Written Premium (EUR Million), 2010-2014
        • Table Estonian Non-Linked Insurance Business - Direct Written Premium (EUR Million), 2014-2019
  • Analysis by Distribution Channel
    • Direct Marketing
      • Table Estonian Life Insurance - Sales Force, 2010-2014
      • Table Estonian Life Insurance - Sales Force, 2014-2019
    • Bancassurance
      • Table Estonian Life Insurance - Number of Banking Entities, 2010-2014
      • Table Estonian Life Insurance - Number of Banking Entities, 2014-2019
    • Agencies
      • Table Estonian Life Insurance - Number of Insurance Agents, 2010-2014
      • Table Estonian Life Insurance - Number of Insurance Agents, 2014-2019
    • Brokers
      • Table Estonian Life Insurance - Number of Insurance Brokers, 2010-2014
      • Table Estonian Life Insurance - Number of Insurance Brokers, 2014-2019
  • Competitive Landscape and Strategic Insights
    • Overview
    • Leading Companies in the Estonian Life Insurance Segment
      • Table Estonian Life Insurance - Segment Shares (%), 2014
      • Compensa Life Vienna Insurance Group SE - company overview
        • Table Compensa Life Vienna Insurance Group SE, Key Facts
        • Table Compensa Life Vienna Insurance Group SE, Key Financials (EUR Million), 2010-2014
      • Swedbank Life Insurance SE - company overview
        • Table Swedbank Life Insurance SE, Key Facts
        • Table Swedbank Life Insurance SE, Key Financials (EUR Million), 2010-2014
      • AS SEB Elu- ja Pensionikindlustus - company overview
        • Table AS SEB Elu- ja Pensionikindlustus, Key Facts
        • Table AS SEB Elu- ja Pensionikindlustus, Key Financials (EUR Million), 2010-2014
      • Mandatum Life Insurance Baltic SE - company overview
        • Table Mandatum Life Insurance Baltic SE, Key Facts
        • Table Mandatum Life Insurance Baltic SE, Key Financials (EUR Million), 2010-2014
  • Governance, Risk and Compliance
    • Table Estonia - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulations
    • Regulations and market practice by Type of Insurance
      • Life insurance
        • Table Estonia - Life Insurance Regulatory Framework
      • Property insurance
        • Table Estonia - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Estonia - Motor Insurance Regulatory Framework
      • Liability Insurance
        • Table Estonia - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor third-party liability insurance
      • Social security system
      • Professional indemnity insurance for alternative investment fund managers
    • Supervision and Control
      • International Association of Insurance Supervisors (IAIS)
      • European Insurance and Occupational Pensions Authority (EIOPA)
      • Financial Supervision Authority
      • Estonian Insurance Association (Eesti Kindlustusseltside Liit - EKsL)
      • The Estonian Traffic Insurance Fund (Eesti Liikluskindlustuse Fond - LKF)
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and penalties
    • Company Registration and Operations
      • Types of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
        • Table Estonia - Minimum Capital Requirements
      • Solvency margins
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Corporate tax
        • Table Estonia - Corporate Tax Rates for the Financial Year 2015
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution (ADR)
  • Appendix
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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