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At the end of the first quarter of 2020 there were 47 creditors not associated with credit institutions, 11 creditors associated with credit institutions, and 9 credit intermediaries operating in the market.
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Payment institutions operating in Estonia mediated payments of 88.4 million euros in the first quarter of 2020. The volume of payments was 3.7% smaller than in the final quarter of 2019.
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Five investment firms operate in the market. The value of the assets of investment firms increased by 26% during the second quarter to 90 million euros. The growth in assets was related to the extraordinary large quarterly profit of 14 million euros.
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Life insurers received 64.3 million euros in insurance premiums in the first quarter of 2020, which was 5% less than in the last quarter of 2019. The premiums were 1.5% more than in the first quarter of last year.
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The non-life insurers registered in Estonia, of which four have branches in Latvia and Lithuania, collected 154 million euros in premiums in the first quarter of 2020. The coronavirus crisis that started in the second half of March caused a fall in volumes.
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The Estonian fund sector was affected most in the first quarter by the worldwide crisis caused by the Covid-19 virus and the consequent crash in global financial markets.
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The total volume of assets managed by the fund management sector fell by 10.3% in first quarter of 2020, returning them to the same level as a year earlier. The drop of 768 million euros meant the value of assets managed by the sector stood at 6.7 billion euros by the end of the quarter.
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The yearly rate of growth in the lending of the banking sector was 0.9% in the first quarter over the same quarter of last year. This rate of growth includes the Latvian and Lithuanian branches of Luminor, without which the growth in the loan stock would have been 5.7%.
