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Non-Life Insurance in Estonia, Key Trends and Opportunities to 2019

Non-Life Insurance in Estonia, Key Trends and Opportunities to 2019

Synopsis

Timetric’s 'Non-Life Insurance in the Estonia, Key Trends and Opportunities to 2019' report provides a detailed outlook by product category for the Estonian non-life insurance segment, and a comparison of the Estonian insurance industry with regional counterparts.

It uses key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, 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, explains the various types of natural hazard and their impact on the Estonian insurance industry, and provides detailed information on the 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 'Non-Life Insurance in the Estonia, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Estonian non-life insurance segment, including:

  • The Estonian non-life insurance segment’s detailed outlook by product category
  • A comprehensive overview of Estonia's economy and demographics
  • A comparison of the Estonian insurance industry with regional counterparts
  • Analysis of natural hazards and their impact on the Estonian insurance industry
  • Details of the competitive landscape in the non-life insurance segment in Estonia
  • Details of regulatory policy applicable to the Estonian insurance industry
Scope

This report provides a comprehensive analysis of the non-life insurance segment in Estonia:
  • It provides historical values for the Estonian non-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 non-life insurance segment, and market forecasts to 2019.
  • It analyzes the various distribution channels for non-life insurance products in Estonia.
  • It profiles the top non-life insurance companies in Estonia, and outlines the key regulations affecting them.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Estonian non-life insurance segment and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Estonian non-life insurance segment.
  • Assess the competitive dynamics in the non-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
  • In 2014, Estonia was comparable to Sweden in terms of non-life insurance penetration.
  • Stable economic growth coupled and rising disposable incomes resulted in increased demand for residential construction.
  • Due to the compulsory nature of liability insurance, there has been a growing demand for professional liability insurance for auditors and advocates. Professionals such as accountants, architects, engineers, lawyers and medical service providers are not obligated but take out voluntary insurance, so as to prevent future losses.
  • The European Parliament passed a new regulation making it mandatory to compensate for any damages resulting caused to the participants of clinical trials.
  • Bancassurance is a preferred distribution channel due to the banks’ established customer base. Tie-ups between insurers and banks supported the growth of bancassurance during the review
  • The Estonian non-life insurance segment is highly concentrated, with the four leading companies accounting for 93.4% of the non-life gross written premium in 2014.


  • Key Facts and Highlights
    • Table Estonian Non-Life Insurance - Key Facts, 2014
    • Table Estonian Non-Life Insurance - Segment Shares of the Top Insurers, 2014
  • Executive Summary
  • Economy and Demographics
    • Table Estonian Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table Estonian Non-Life Insurance - Gross Written Premium (EUR Million and US$ Million), 2010-2014
        • Table Estonian Non-Life Insurance - Penetration (%), 2010-2014
        • Table Estonian Non-Life Insurance - Gross Written Premium (EUR Million and US$ Million), 2014-2019
        • Table Estonian Non-Life Insurance - Penetration (%), 2014-2019
        • Table Estonian Non-Life Insurance - Premium per Capita (EUR and US$), 2010-2014
        • Table Estonian Non-Life Insurance - Premium per Capita (EUR and US$), 2014-2019
      • Policies sold
        • Table Estonian Non-Life Insurance - Number of Policies Sold (Thousand), 2010-2014
        • Table Estonian Non-Life Insurance - Number of Policies Sold (Thousand), 2014-2019
      • Claims
        • Table Estonian Non-Life Insurance - Paid Claims (EUR Million and US$ Million), 2010-2014
        • Table Estonian Non-Life Insurance - Paid Claims (EUR Million and US$ Million), 2014-2019
      • Profitability
        • Table Estonian Non-Life Insurance - Profitability Ratio (%), 2010-2014
        • Table Estonian Non-Life Insurance - Profitability Ratio (%), 2014-2019
      • Assets and investments
        • Table Estonian Non-Life Insurance - Total Assets (EUR Million and US$ Million), 2010-2014
        • Table Estonian Non-Life Insurance - Total Assets (EUR Million and US$ Million), 2014-2019
        • Table Estonian Non-Life Insurance - Total Investment Income (EUR Million and US$ Million), 2010-2014
        • Table Estonian Non-Life Insurance - Total Investment Income (EUR Million and US$ Million), 2014-2019
        • Table Estonian Non-Life Insurance - Investment Portfolio (EUR Million), 2010-2014
        • Table Estonian Non-Life Insurance - Investment Portfolio (EUR Million), 2014-2019
  • Outlook by Category
    • Table Estonian Non-Life Insurance - Gross Written Premium by Category (EUR Million), 2010-2014
    • Table Estonian Non-Life Insurance - Gross Written Premium by Category (EUR Million), 2014-2019
    • Motor Insurance
      • Product overview
        • Table Estonian First Registration of Vehicles, January - December, 2014
        • Table Estonian First Registration of Vehicles, January - August, 2015
      • Premium
        • Table Estonian Motor Insurance - Gross Written Premium by Sub-Category (EUR Million), 2010-2014
        • Table Estonian Motor Insurance - Gross Written Premium by Sub-Category (EUR Million), 2014-2019
      • Policies
        • Table Estonian Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2010-2014
        • Table Estonian Motor Insurance - Number of Policies Sold by Sub-Category (Million), 2014-2019
      • Claims
        • Table Estonian Motor Insurance - Paid Claims (EUR Million and US$ Million), 2010-2014
        • Table Estonian Motor Insurance - Paid Claims (EUR Million and US$ Million), 2014-2019
      • Profitability
        • Table Estonian Motor Insurance - Loss Ratio (%), 2010-2014
        • Table Estonian Motor Insurance - Loss Ratio (%), 2014-2019
    • Property Insurance
      • Product overview
      • Premium
        • Table Estonian Property Insurance - Gross Written Premium by Sub-Category (EUR Million), 2010-2014
        • Table Estonian Property Insurance - Gross Written Premium by Sub-Category (EUR Million), 2014-2019
      • Policies
        • Table Estonian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2010-2014
        • Table Estonian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2014-2019
      • Claims
        • Table Estonian Property Insurance - Paid Claims (EUR Million and US$ Million), 2010-2014
        • Table Estonian Property Insurance - Paid Claims (EUR Million and US$ Million), 2014-2019
      • Profitability
        • Table Estonian Property Insurance - Loss Ratio (%), 2010-2014
        • Table Estonian Property Insurance - Loss Ratio (%), 2014-2019
    • Liability Insurance
      • Product overview
      • Premium
        • Table Estonian Liability Insurance - Gross Written Premium (EUR Million), 2010-2014
        • Table Estonian Liability Insurance - Gross Written Premium (EUR Million), 2014-2019
      • Policies
        • Table Estonian Liability Insurance - Number of Policies Sold (Thousand), 2010-2014
        • Table Estonian Liability Insurance - Number of Policies Sold (Thousand), 2014-2019
      • Claims
        • Table Estonian Liability Insurance - Paid Claims (EUR Million and US$ Million), 2010-2014
        • Table Estonian Liability Insurance - Paid Claims (EUR Million and US$ Million), 2014-2019
      • Profitability
        • Table Estonian Liability Insurance - Loss Ratio (%), 2010-2014
        • Table Estonian Liability Insurance - Loss Ratio (%), 2014-2019
    • Marine, Aviation and Transit Insurance
      • Product overview
        • Table Estonian Transport Network - Global Rankings, 2013
        • Table Estonian Number of Outbound Vessels, 2010-2014
        • Table Estonian Air, Water, Rail and Road Freight, 2010-2014
      • Premium
        • Table Estonian Marine, Aviation and Transit Insurance - Gross Written Premium (EUR Million), 2010-2014
        • Table Estonian Marine, Aviation and Transit Insurance - Gross Written Premium (EUR Million), 2014-2019
      • Policies
        • Table Estonian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2010-2014
        • Table Estonian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2014-2019
      • Claims
        • Table Estonian Marine, Aviation and Transit Insurance - Paid Claims (EUR Million and US$ Million), 2010-2014
        • Table Estonian Marine, Aviation and Transit Insurance - Paid Claims (EUR Million and US$ Million), 2014-2019
      • Profitability
        • Table Estonian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2010-2014
        • Table Estonian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2014-2019
  • Natural Hazards
  • Analysis by Distribution Channel
  • Competitive Landscape
    • Overview
    • Leading Companies in the Estonian Non-Life Insurance Segment
      • Table Estonian Non-Life Insurance - Market Shares (%), 2014
      • If P&C Insurance AS - company overview
        • Table If P&C Insurance AS, Key Facts
        • Table If P&C Insurance AS, Key Financials (EUR Million), 2010-2014
      • Ergo Insurance SE - company overview
        • Table Ergo Insurance SE, Key Facts
        • Table Ergo Insurance SE, Key Financials (EUR Million), 2010-2014
      • Seesam Insurance AS - company overview
        • Table Seesam Insurance AS, Key Facts
        • Table Seesam Insurance AS, Key Financials (EUR Million), 2010-2014
      • Swedbank P&C Insurance AS - company overview
        • Table Swedbank P&C Insurance AS, Key Facts
        • Table Swedbank P&C Insurance AS, Key Financials (EUR Million), 2010-2014
      • Salva Kindlustuse AS - company overview
        • Table Salva Kindlustuse AS, Key Facts
        • Table Salva Kindlustus AS, 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)
  • Databook
    • Policies and Premium
      • Table Estonian Insurance Industry - Policies and Premium, 2010-2014
      • Table Estonian Insurance Industry - Policies and Premium, 2014-2019
      • Table Estonian Non-Life Insurance - Policies and Premium, 2010-2014
      • Table Estonian Non-Life Insurance - Policies and Premium, 2014-2019
      • Table Estonian Non-Life Insurance - Property Insurance Policies and Premium, 2010-2014
      • Table Estonian Non-Life Insurance - Property Insurance Policies and Premium, 2014-2019
      • Table Estonian Non-Life Insurance - Motor Insurance Policies and Premium, 2010-2014
      • Table Estonian Non-Life Insurance - Motor Insurance Policies and Premium, 2014-2019
      • Table Estonian Non-Life Insurance - Liability Insurance Policies and Premium, 2010-2014
      • Table Estonian Non-Life Insurance - Liability Insurance Policies and Premium, 2014-2019
      • Table Estonian Non-Life Insurance - Marine, Aviation and Transit Insurance Policies and Premium, 2010-2014
      • Table Estonian Non-Life Insurance - Marine, Aviation and Transit Insurance Policies and Premium, 2014-2019
      • Table Estonian Non-Life Insurance - Gross Written Premium by Sub-Category (EUR), 2010-2014
      • Table Estonian Non-Life Insurance - Gross Written Premium by Sub-Category (EUR), 2014-2019
      • Table Estonian Non-Life Insurance - Direct Written Premium by Sub-Category (EUR), 2010-2014
      • Table Estonian Non-Life Insurance - Direct Written Premium by Sub-Category (EUR), 2014-2019
      • Table Estonian Non-Life Insurance - Penetration by Sub-Category (%), 2010-2014
      • Table Estonian Non-Life Insurance - Penetration by Sub-Category (%), 2014-2019
      • Table Estonian Non-Life Insurance - Number of Active Policies by Sub-Category (Thousand), 2010-2014
      • Table Estonian Non-Life Insurance - Number of Active Policies by Sub-Category (Thousand), 2014-2019
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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