Key Market Indicators
Estonia's insurance spending is projected to rise to €86 million by 2028, up from €80 million in 2023, according to recent forecasts. This marks a modest annual growth rate of 1.2%. However, despite this upward trend, the country's insurance demand has seen a decline of 3.6% per year on average since 2000. In terms of gross written premiums, Estonia is expected to see a significant increase. Projections indicate that the figure will reach $1.7 billion by 2028, up from $1.35 billion in 2023, representing an average annual growth rate of 3.2%. Since 2011, the supply of gross written premiums in Estonia has surged by 4.4% annually. In 2023, Estonia was ranked 22nd globally, with Uruguay surpassing it with the same $1.35 billion figure. Among the top performers in this category, the United Kingdom, Germany, and the Netherlands claimed the second, third, and fourth positions, respectively.
