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Insurance Intelligence

Providing expert analysis, independent market insight and company data on the insurance industry.

Insurance market reports are produced following a country visit with interviews with professionals working in the sector with systematic updates to information throughout the cycle. Covering market developments, macroeconomic factors and comprehensive details of the regulatory environment including relevant taxation as well as market indicators and company statistics.

Axco’s Estonia Non-Life Insurance Market Report (P&C) also comprises a detailed analysis of lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers’ liability and liability.

The Life & Benefits Report for Estonia includes detail on social security, healthcare, individual life assurance and pensions information as well as market statistics and life company statistics

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Information for Estonia can be seen in:

Insurance Market Reports (Non-Life) Insurance Market Reports (Life & Benefits) Employee Benefits Reports Global Statistics Regulatory Alerts Market Profiles Insight Compliance Insight EB Compliance Point Clinical Trials Axco API

Country Information

Capital city
Real GDP growth (%)
Inflation (%)
latest GWP
Insurance Penetration (%)
1.33 mn

Estonia is the smallest and most northerly of the three Baltic states and for most of its history has been controlled by foreign powers including Denmark, Sweden and Russia.

Estonia's modern insurance industry has been in existence for over 25 years and even though the market remains small in European and world terms, it continues to develop slowly but positively. Motor own damage (MOD) is the largest class of business within the P&C market followed by compulsory motor third party liability (MTPL) and property insurance

In January 2020 there were 12 active non-life insurers in the market plus the Estonian Traffic Insurance Fund. There were five life insurers: including two bancassurers. Most companies are branches, are foreign-owned, or have a significant foreign shareholding (mostly Nordic), and often form part of pan-Baltic and pan-Nordic insurance groups.

Estonian non-life insurance is sold in a number of ways but while the use of a broker predominates, insureds are increasingly going online to buy insurance.

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