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Synopsis
Timetric’s 'Non-Life Insurance in the Estonia, Key Trends and Opportunities to 2019' report provides a detailed outlook by product category for the Estonian non-life insurance segment, and a comparison of the Estonian insurance industry with regional counterparts.

It uses key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of Estonia's economy and demographics, explains the various types of natural hazard and their impact on the Estonian insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in regulatory structure.

Summary
Timetric’s 'Non-Life Insurance in the Estonia, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Estonian non-life insurance segment, including:

- The Estonian non-life insurance segment’s detailed outlook by product category

- A comprehensive overview of Estonia's economy and demographics

- A comparison of the Estonian insurance industry with regional counterparts

- Analysis of natural hazards and their impact on the Estonian insurance industry

- Details of the competitive landscape in the non-life insurance segment in Estonia

- Details of regulatory policy applicable to the Estonian insurance industry

Scope
This report provides a comprehensive analysis of the non-life insurance segment in Estonia:

- It provides historical values for the Estonian non-life insurance segment for the report’s 2010–2014 review period, and projected figures for the 2014–2019 forecast period.

- It offers a detailed analysis of the key categories in the Estonian non-life insurance segment, and market forecasts to 2019.

- It analyzes the various distribution channels for non-life insurance products in Estonia.

- It profiles the top non-life insurance companies in Estonia, and outlines the key regulations affecting them.

Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Estonian non-life insurance segment and each category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Estonian non-life insurance segment.

- Assess the competitive dynamics in the non-life insurance segment.

- Identify growth opportunities and market dynamics in key product categories.

- Gain insights into key regulations governing the Estonian insurance industry, and their impact on companies and the industry's future.

Key Highlights
- In 2014, Estonia was comparable to Sweden in terms of non-life insurance penetration.

- Stable economic growth coupled and rising disposable incomes resulted in increased demand for residential construction.

- Due to the compulsory nature of liability insurance, there has been a growing demand for professional liability insurance for auditors and advocates. Professionals such as accountants, architects, engineers, lawyers and medical service providers are not obligated but take out voluntary insurance, so as to prevent future losses.

- The European Parliament passed a new regulation making it mandatory to compensate for any damages resulting caused to the participants of clinical trials.

- Bancassurance is a preferred distribution channel due to the banks’ established customer base. Tie-ups between insurers and banks supported the growth of bancassurance during the review

- The Estonian non-life insurance segment is highly concentrated, with the four leading companies accounting for 93.4% of the non-life gross written premium in 2014.

Table Of Contents

Non-Life Insurance in Estonia, Key Trends and Opportunities to 2019
Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Policies sold
4.2.3 Claims
4.2.4 Profitability
4.2.5 Assets and investments
5 Outlook by Category
5.1 Motor Insurance
5.1.1 Product overview
5.1.2 Premium
5.1.3 Policies
5.1.4 Claims
5.1.5 Profitability
5.2 Property Insurance
5.2.1 Product overview
5.2.2 Premium
5.2.3 Policies
5.2.4 Claims
5.2.5 Profitability
5.3 Liability Insurance
5.3.1 Product overview
5.3.2 Premium
5.3.3 Policies
5.3.4 Claims
5.3.5 Profitability
5.4 Marine, Aviation and Transit Insurance
5.4.1 Product overview
5.4.2 Premium
5.4.3 Policies
5.4.4 Claims
5.4.5 Profitability
6 Natural Hazards
7 Analysis by Distribution Channel
8 Competitive Landscape
8.1 Overview
8.2 Leading Companies in the Estonian Non-Life Insurance Segment
8.2.1 If PandC Insurance AS - company overview
8.2.2 Ergo Insurance SE - company overview
8.2.3 Seesam Insurance AS - company overview
8.2.4 Swedbank PandC Insurance AS - company overview
8.2.5 Salva Kindlustuse AS - company overview
9 Governance, Risk and Compliance
9.1 Legislation Overview and Historical Evolution
9.2 Latest Changes in Regulations
9.3 Regulations and market practice by Type of Insurance
9.3.1 Life insurance
9.3.2 Property insurance
9.3.3 Motor insurance
9.3.4 Liability Insurance
9.3.5 Marine, aviation and transit insurance
9.3.6 Personal accident and health insurance
9.4 Compulsory Insurance
9.4.1 Motor third-party liability insurance
9.4.2 Social security system
9.4.3 Professional indemnity insurance for alternative investment fund managers
9.5 Supervision and Control
9.5.1 International Association of Insurance Supervisors (IAIS)
9.5.2 European Insurance and Occupational Pensions Authority (EIOPA)
9.5.3 Financial Supervision Authority
9.5.4 Estonian Insurance Association (Eesti Kindlustusseltside Liit - EKsL)
9.5.5 The Estonian Traffic Insurance Fund (Eesti Liikluskindlustuse Fond - LKF)
9.6 Non-Admitted Insurance Regulations
9.6.1 Overview
9.6.2 Intermediaries
9.6.3 Market practices
9.6.4 Fines and penalties
9.7 Company Registration and Operations
9.7.1 Types of insurance organization
9.7.2 Establishing a local company
9.7.3 Foreign ownership
9.7.4 Types of license
9.7.5 Capital requirements
9.7.6 Solvency margins
9.7.7 Reserve requirements
9.7.8 Investment regulations
9.7.9 Statutory return requirements
9.7.10 Fee structure
9.8 Taxation
9.8.1 Insurance premium or policy taxation
9.8.2 Corporate tax
9.8.3 VAT
9.8.4 Captives
9.9 Legal System
9.9.1 Introduction
9.9.2 Access to court
9.9.3 Alternative dispute resolution (ADR)
10 Databook
10.1 Policies and Premium
11 Definitions and Methodology
11.1 Definitions
11.2 Methodology
12 About Timetric
12.1 Contact Timetric
12.2 About Timetric
12.3 Timetric's Services
12.4 Disclaimer

List of Tables
Table 1: Estonian Non-Life Insurance - Key Facts, 2014
Table 2: Estonian Non-Life Insurance - Segment Shares of the Top Insurers, 2014
Table 3: Estonian Government Credit Ratings
Table 4: Estonian Non-Life Insurance - Gross Written Premium (EUR Million and US$ Million), 2010-2014
Table 5: Estonian Non-Life Insurance - Penetration (%), 2010-2014
Table 6: Estonian Non-Life Insurance - Gross Written Premium (EUR Million and US$ Million), 2014-2019
Table 7: Estonian Non-Life Insurance - Penetration (%), 2014-2019
Table 8: Estonian Non-Life Insurance - Premium per Capita (EUR and US$), 2010-2014
Table 9: Estonian Non-Life Insurance - Premium per Capita (EUR and US$), 2014-2019
Table 10: Estonian Non-Life Insurance - Number of Policies Sold (Thousand), 2010-2014
Table 11: Estonian Non-Life Insurance - Number of Policies Sold (Thousand), 2014-2019
Table 12: Estonian Non-Life Insurance - Paid Claims (EUR Million and US$ Million), 2010-2014
Table 13: Estonian Non-Life Insurance - Paid Claims (EUR Million and US$ Million), 2014-2019
Table 14: Estonian Non-Life Insurance - Profitability Ratio (%), 2010-2014
Table 15: Estonian Non-Life Insurance - Profitability Ratio (%), 2014-2019
Table 16: Estonian Non-Life Insurance - Total Assets (EUR Million and US$ Million), 2010-2014
Table 17: Estonian Non-Life Insurance - Total Assets (EUR Million and US$ Million), 2014-2019
Table 18: Estonian Non-Life Insurance - Total Investment Income (EUR Million and US$ Million), 2010-2014
Table 19: Estonian Non-Life Insurance - Total Investment Income (EUR Million and US$ Million), 2014-2019
Table 20: Estonian Non-Life Insurance - Investment Portfolio (EUR Million), 2010-2014
Table 21: Estonian Non-Life Insurance - Investment Portfolio (EUR Million), 2014-2019
Table 22: Estonian Non-Life Insurance - Gross Written Premium by Category (EUR Million), 2010-2014
Table 23: Estonian Non-Life Insurance - Gross Written Premium by Category (EUR Million), 2014-2019
Table 24: Estonian First Registration of Vehicles, January - December, 2014
Table 25: Estonian First Registration of Vehicles, January - August, 2015
Table 26: Estonian Motor Insurance - Gross Written Premium by Sub-Category (EUR Million), 2010-2014
Table 27: Estonian Motor Insurance - Gross Written Premium by Sub-Category (EUR Million), 2014-2019
Table 28: Estonian Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2010-2014
Table 29: Estonian Motor Insurance - Number of Policies Sold by Sub-Category (Million), 2014-2019
Table 30: Estonian Motor Insurance - Paid Claims (EUR Million and US$ Million), 2010-2014
Table 31: Estonian Motor Insurance - Paid Claims (EUR Million and US$ Million), 2014-2019
Table 32: Estonian Motor Insurance - Loss Ratio (%), 2010-2014
Table 33: Estonian Motor Insurance - Loss Ratio (%), 2014-2019
Table 34: Estonian Property Insurance - Gross Written Premium by Sub-Category (EUR Million), 2010-2014
Table 35: Estonian Property Insurance - Gross Written Premium by Sub-Category (EUR Million), 2014-2019
Table 36: Estonian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2010-2014
Table 37: Estonian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2014-2019
Table 38: Estonian Property Insurance - Paid Claims (EUR Million and US$ Million), 2010-2014
Table 39: Estonian Property Insurance - Paid Claims (EUR Million and US$ Million), 2014-2019
Table 40: Estonian Property Insurance - Loss Ratio (%), 2010-2014
Table 41: Estonian Property Insurance - Loss Ratio (%), 2014-2019
Table 42: Estonian Liability Insurance - Gross Written Premium (EUR Million), 2010-2014
Table 43: Estonian Liability Insurance - Gross Written Premium (EUR Million), 2014-2019
Table 44: Estonian Liability Insurance - Number of Policies Sold (Thousand), 2010-2014
Table 45: Estonian Liability Insurance - Number of Policies Sold (Thousand), 2014-2019
Table 46: Estonian Liability Insurance - Paid Claims (EUR Million and US$ Million), 2010-2014
Table 47: Estonian Liability Insurance - Paid Claims (EUR Million and US$ Million), 2014-2019
Table 48: Estonian Liability Insurance - Loss Ratio (%), 2010-2014
Table 49: Estonian Liability Insurance - Loss Ratio (%), 2014-2019
Table 50: Estonian Transport Network - Global Rankings, 2013
Table 51: Estonian Number of Outbound Vessels, 2010-2014
Table 52: Estonian Air, Water, Rail and Road Freight, 2010-2014
Table 53: Estonian Marine, Aviation and Transit Insurance - Gross Written Premium (EUR Million), 2010-2014
Table 54: Estonian Marine, Aviation and Transit Insurance - Gross Written Premium (EUR Million), 2014-2019
Table 55: Estonian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2010-2014
Table 56: Estonian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2014-2019
Table 57: Estonian Marine, Aviation and Transit Insurance - Paid Claims (EUR Million and US$ Million), 2010-2014
Table 58: Estonian Marine, Aviation and Transit Insurance - Paid Claims (EUR Million and US$ Million), 2014-2019
Table 59: Estonian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2010-2014
Table 60: Estonian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2014-2019
Table 61: Estonian Non-Life Insurance - Market Shares (%), 2014
Table 62: If PandC Insurance AS, Key Facts
Table 63: If PandC Insurance AS, Key Financials (EUR Million), 2010-2014
Table 64: Ergo Insurance SE, Key Facts
Table 65: Ergo Insurance SE, Key Financials (EUR Million), 2010-2014
Table 66: Seesam Insurance AS, Key Facts
Table 67: Seesam Insurance AS, Key Financials (EUR Million), 2010-2014
Table 68: Swedbank PandC Insurance AS, Key Facts
Table 69: Swedbank PandC Insurance AS, Key Financials (EUR Million), 2010-2014
Table 70: Salva Kindlustuse AS, Key Facts
Table 71: Salva Kindlustus AS, Key Financials (EUR Million), 2010-2014
Table 72: Estonia - Insurance Regulatory Framework Key Features
Table 73: Estonia - Life Insurance Regulatory Framework
Table 74: Estonia - Property Insurance Regulatory Framework
Table 75: Estonia - Motor Insurance Regulatory Framework
Table 76: Estonia - Liability Insurance Regulatory Framework
Table 77: Estonia - Minimum Capital Requirements
Table 78: Estonia - Corporate Tax Rates for the Financial Year 2015
Table 79: Estonian Insurance Industry - Policies and Premium, 2010-2014
Table 80: Estonian Insurance Industry - Policies and Premium, 2014-2019
Table 81: Estonian Non-Life Insurance - Policies and Premium, 2010-2014
Table 82: Estonian Non-Life Insurance - Policies and Premium, 2014-2019
Table 83: Estonian Non-Life Insurance - Property Insurance Policies and Premium, 2010-2014
Table 84: Estonian Non-Life Insurance - Property Insurance Policies and Premium, 2014-2019
Table 85: Estonian Non-Life Insurance - Motor Insurance Policies and Premium, 2010-2014
Table 86: Estonian Non-Life Insurance - Motor Insurance Policies and Premium, 2014-2019
Table 87: Estonian Non-Life Insurance - Liability Insurance Policies and Premium, 2010-2014
Table 88: Estonian Non-Life Insurance - Liability Insurance Policies and Premium, 2014-2019
Table 89: Estonian Non-Life Insurance - Marine, Aviation and Transit Insurance Policies and Premium, 2010-2014
Table 90: Estonian Non-Life Insurance - Marine, Aviation and Transit Insurance Policies and Premium, 2014-2019
Table 91: Estonian Non-Life Insurance - Gross Written Premium by Sub-Category (EUR), 2010-2014
Table 92: Estonian Non-Life Insurance - Gross Written Premium by Sub-Category (EUR), 2014-2019
Table 93: Estonian Non-Life Insurance - Direct Written Premium by Sub-Category (EUR), 2010-2014
Table 94: Estonian Non-Life Insurance - Direct Written Premium by Sub-Category (EUR), 2014-2019
Table 95: Estonian Non-Life Insurance - Penetration by Sub-Category (%), 2010-2014
Table 96: Estonian Non-Life Insurance - Penetration by Sub-Category (%), 2014-2019
Table 97: Estonian Non-Life Insurance - Number of Active Policies by Sub-Category (Thousand), 2010-2014
Table 98: Estonian Non-Life Insurance - Number of Active Policies by Sub-Category (Thousand), 2014-2019
Table 99: Insurance Industry Definitions

List of Figures
Figure 1: Estonian Real GDP, 2010-2019
Figure 2: EUR-US$ Exchange Rate, 2010-2019
Figure 3: Estonian Consumer Price Inflation, 2010-2019
Figure 4: Estonian Consumer Price Inflation, 2010-2014
Figure 5: Estonian Unemployment Rate, 2010-2019
Figure 6: Estonian Population by Age Group, 1991-2025
Figure 7: Estonian Non-Life Insurance Penetration - Regional Comparison (%), 2014
Figure 8: Estonian Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2014
Figure 9: Estonian Non-Life Insurance - Gross Written Premium (EUR Million), 2010-2019
Figure 10: Estonian Non-Life Insurance - Penetration (%), 2010-2019
Figure 11: Estonian Non-Life Insurance - Premium per Capita (EUR), 2010-2019
Figure 12: Estonian Non-Life Insurance - Number of Policies Sold (Thousand), 2010-2019
Figure 13: Estonian Non-Life Insurance - Paid Claims (EUR Million), 2010-2019
Figure 14: Estonian Non-Life Insurance - Profitability Ratio (%), 2010-2019
Figure 15: Estonian Non-Life Insurance - Total Assets (EUR Million), 2010-2019
Figure 16: Estonian Non-Life Insurance - Total Investment Income (EUR Million), 2010-2019
Figure 17: Estonian Non-Life Insurance - Investment Portfolio (EUR Million), 2010-2019
Figure 18: Estonian Non-Life Insurance - Investment Portfolio Dynamics by Category, 2010-2019
Figure 19: Estonian Non-Life Insurance - Gross Written Premium by Category (EUR Million and US$ Million), 2010-2019
Figure 20: Estonian Non-Life Insurance - Gross Written Premium Dynamics by Category, 2010-2019
Figure 21: Estonian Motor Insurance - Gross Written Premium by Sub-Category (EUR Million), 2010-2019
Figure 22: Estonian Motor Insurance - Gross Written Premium Dynamics by Sub-Category, 2010-2019
Figure 23: Estonian Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2010-2019
Figure 24: Estonian Motor Insurance - Paid Claims (EUR Million), 2010-2019
Figure 25: Estonian Motor Insurance - Earned Premium, Incurred Loss and Loss Ratio (EUR Million and %), 2010-2019
Figure 26: Estonian Construction Output by Category (EUR Million), 2010-2014
Figure 27: Estonian Property Insurance - Gross Written Premium by Sub-Category (EUR Million), 2010-2019
Figure 28: Estonian Property Insurance - Gross Written Premium Dynamics by Sub-Category, 2010-2019
Figure 29: Estonian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2010-2019
Figure 30: Estonian Property Insurance - Paid Claims (EUR Million), 2010-2019
Figure 31: Estonian Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (EUR Million and %), 2010-2019
Figure 32: Estonian Liability Insurance - Gross Written Premium (EUR Million), 2010-2019
Figure 33: Estonian Liability Insurance - Number of Policies Sold (Thousand), 2010-2019
Figure 34: Estonian Liability Insurance - Paid Claims (EUR Million), 2010-2019
Figure 35: Estonian Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (EUR Million and %), 2010-2019
Figure 36: Estonian Marine, Aviation and Transit Insurance - Gross Written Premium (EUR Million), 2010-2019
Figure 37: Estonian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2010-2019
Figure 38: Estonian Marine, Aviation and Transit Insurance - Paid Claims (EUR Million), 2010-2019
Figure 39: Estonian Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (EUR Million and %), 2010-2019
Figure 40: Estonian Non-Life Insurance - Market Shares (%), 2014
Figure 41: Estonia - The Three Pillars of Solvency II
Figure 42: Estonia - Insurance Supervision and Control at Various Levels
Figure 43: Estonia - Insurance Regulatory Frameworks for Company Registration and Operation

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