Market Size of Property & Casualty Insurance Industry In Estonia
| Study Period | 2019 - 2028 |
| Base Year For Estimation | 2021 |
| Forecast Data Period | 2024 - 2028 |
| Historical Data Period | 2019 - 2020 |
| CAGR | < 5.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Estonia Property & Casualty Insurance Market Analysis
The impact of the COVID-19 crisis on the economy affected the revenue base of the property and casualty insurance sector. The restrictions imposed by the government and the general economic downturn caused by the COVID-19 crisis affected the demand for services and goods for which non-life insurance companies offer insurance cover.
Property and Casualty Insurance in Estonia is provided by Insurance companies registered in Estonia, Estonian branches of foreign insurers, and foreign insurers operating internationally. Most property and casualty insurance premium is written by Estonian insurers, followed by branches of the foreign insurer and foreign insurer operating internationally. In Estonia, 1,687,838 new non-life insurance contracts were signed in the first half of 2021, up from 1,511,258 new contracts in the first half of 2020. In the first half of 2021, such contracts brought in 204 million euros in premiums, while the first half of 2020 brought in 194 million Euros. Except for motor third-party liability insurance and travel insurance, practically all types of insurance premiums increased. The 62 million euros paid for land vehicle insurance and the 55 million euros paid for property insurance were the greatest aggregate volumes of premiums, as they had been in previous years. Premiums for health insurance and financial loss insurance, which was products that were particularly significant due to the epidemic, continued to rise. Premiums for health insurance climbed by 1.4 million euros to 3.7 million euros in the past year. The amount of money received in premiums for financial loss insurance climbed from 7 million to 10 million euros.
