Key Market Indicators
Estonian life insurance revenue is projected to decline sharply over the next five years. According to recent data, the sector's revenue is expected to drop from €28 million in 2023 to approximately €21 million by 2028. This represents a compound annual growth rate (CAGR) decrease of 3.8%. The downward trend is not new; the Estonian market has been contracting since 2019, with an average annual decrease of 12.6%. This decline has affected the country's position on the European scale. In 2023, Estonia ranked 24th in life insurance revenue. Bulgaria outpaced Estonia in the rankings, posting the same revenue of €28 million. Leading the list were Denmark, Germany, and Italy, occupying the second, third, and fourth spots, respectively.
