Estonia Insurance Report 2008
Business Monitor International, December 2007, Pages: 31
The Estonia Insurance Report provides independent forecasts and competitive intelligence on Estonias insurance industry.
At first glance, Estonia is an attractive proposition for multi-national insurers looking to expand their businesses in Central and Eastern Europe (CEE). The structure - and apparent risks - associated with the economy are relatively low. Penetration and density levels are low, but are rising fast. Both segments should easily achieve double-digit growth over the five years to 2012. Unlike many of the formerly communist countries in the region, neither the non-life nor the life segment is dominated by a former state-owned monopoly.
However, there are two problems. The first is actual and potential size. Unless it is a very rich offshore financial centre (which Estonia is not), any country with a static population of about 1.3mn people is unlikely to represent a potential bonanza to ambitious regional insurance companies. Indeed, the small size of the market - both now and in 2012 - is the main reason why Estonia does not compare more favourably with other markets in the region. It is worth noting, though, that the new Insurance Business Environment Rating that BMI has calculated for Estonia is higher than those of either Latvia or Lithuania.
The second problem is that the dominant players are already established. In the non-life segment, the local subsidiaries of Finland’s Sampo and Germany’s ERGO have a combined market share of around 60%. In the life segment, the names are Hansabank/Swedbank and SEB/Ühispank, but the figures are about the same.
The Sector At A Glance
Table: Overview Of The Estonian Insurance Sector
Key Insights On The Insurance Sector Of Estonia
SWOT Analysis
Estonia Insurance SWOT
Key Features Of This Report
Latest News
Table: Analysis By Lines (EEKmn)
Projections And Forec10
Table: Premiums - Historical Data And Forecasts, 2005-2012
Projections And Drivers Of Growth
Table: Growth Drivers
Country Update
Macroeconomic Outlook
Table: Estonia - Macroeconomic Activity
Political Outlook
Insurance Business Environment Rating
Table: Estonia - Insurance Business Environment Indicators
Table: Insurance Business Environment Rankings
Regional Context
Table: Non-Life Premiums In A Regional Context, 2007
Table: Life Premiums In A Regional Context, 2007
Table: Comparison of Major Lines As % Non-Life Premiums, 2006
Analysis Of Competitive Conditions
Estonia - Non-Life Segment
Table: Presence of Cross-Border Insurers, Non-Life
Estonia - Life Segment
Table: Presence of Cross-Border Insurers, Life
Methodology
Basis Of Projections
Insurance Business Environment Rating
Table: Insurance Business Environment Indicators And Rationale
Table: Weighting Of Indicators
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