Just Published: "Estonia Insurance Report Q3 2016"

Estonia's insurance industry is expected to grow steadily over the forecast period between 2016 and 2020, particularly in the larger non-life sector. Similar to many developing markets, Estonia's non-life sector is dominated by basic lines including motor and property insurance - each of which is expected to grow over the next five years, bolstered by wider economic growth as well as the diversification of available product lines. In the life sector, gradual improvements in average household income rates will support growth, though affordability remains a hindrance to stronger growth. Already a highly consolidated market, the small size of Estonia's life and non-life sectors means we do not expect to see any major new entrants in the near-term.

Full Report Details at
- http://www.fastmr.com/prod/1170514_estonia_insurance_report_q3.aspx?afid=301

Key Updates And Forecasts

Nordic insurance company Gjensidige Group is merging its insurance subsidiaries in the Baltic states. The merger is expected to complete by Q3 2016 and once complete the company, which covers operations in Estonia, Latvia and Lithuania will be headquartered in Vilnius.

At present we expect life insurance premiums to grow by a relatively sedate 2.7% in local currency terms in 2016. Currency movements mean premiums will fall by 0.9% in US dollar terms to USD103mn. Similar growth is expected over the remainder of the forecast period.

Stronger growth is expected in the larger non-life sector, where premiums are forecast to grow by 5.4% in local currency terms in 2016, translating to 1.6% growth in US dollar terms to USD446mn. The most robust growth will be seen in well established lines such as health and property insurance.

The Estonia Insurance Report has been researched at source and features BMI Research's independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's Estonia Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Estonian insurance industry.

Key Benefits
Benchmark BMI's independent insurance industry forecasts for Estonia to test other views - a key input for successful budgeting and strategic business planning in Estonia's insurance market.
Target business opportunities and risks in Estonia through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.
Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).

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