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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 Finland 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 Finland 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 Finland 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 (%)
5.55 mn
11,580.60 (mn)

Finland, the seventh largest country in Europe, has a mature and sophisticated P&C market, with statutory insurances important in both the life/pensions and non-life insurance markets. In the latter, motor third party liability (MTPL) and workers' compensation account for a substantial part of the market.

In 2020, there were 34 non-life insurers, including 21 members of the LahiTapiola group and five local fishing vessel mutuals; there were also nine branch offices of foreign non-life insurance companies. Market share is, however, concentrated in a few insurance groups. There were 10 life companies under local supervision, of which one was running-off.

The Finnish insurance market uses a variety of distribution methods, and there has been steady evolution in the introduction of new sales channels in the last two decades and more.

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