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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Estonian non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Estonia's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Estonia non-life (P&C) market as well as trends by line of business. Axco analysts also report on Estonia's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Estonia's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Estonia, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Estonia, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Estonia with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
Non-life premium income in Estonia (including PA and healthcare written by life and non-life companies) in 2020 was down over 3% on 2019 at EUR 392.15mn (USD 470.82mn). The decline was not as big as initially feared and mainly affected motor third party liability insurance (the second largest class) where premium was down by 12% at EUR 90.06mn (USD 108.13mn).
Figures for the year to 31 December 2020 reflect the full impact on the Estonian insurance market of the ongoing COVID-19 pandemic and have turned out to be smaller than initially anticipated ....
This is a brief extract of information; more updated information may be available in the latest published report