Market Trends of Property & Casualty Insurance Industry In Estonia
This section covers the major market trends shaping the Estonia Property & Casualty Insurance Market according to our research experts:
Direct Sales Contributes For The Majority Of The New Contracts Signed In Estonia
Direct sales of Property and casualty insurance through the insurer or employee is a major insurance distribution channel in Estonia. The majority of insurance contracts were signed directly with the insurer or an employee, and this method accounted for 51% of new contract premiums. Insurance agents accounted for about 18% of new contract premiums, while insurance brokers accounted for 31%.
Motor Vehicle Insurance Represents the Largest Segment In The Property And Casualty Insurance in Estonia
Land Vehicle insurance is the largest segment of Estonia's property and casualty insurance. For the first half of 2021, Euro 62 million was paid for the land vehicle insurance, followed by Euro 55 million for the property insurance. In contrast, motor third-party liability insurance premiums fell from 48 million euros a year earlier to 44 million. The main reason for this was that lower tariffs were applied in 2021 than a year earlier.
