Q2 2019 overview of life insurance sector

Estonian life insurers received 63.8 million euros in insurance premiums in the second quarter of 2019, which was 1% more than in the first quarter. This was 14% more than in the second quarter of 2018.

Key indicators

Q1 2019 Change Q2 2019
Value of insurance premiums 63 million euros 64 million euros
Value of claims 32 million euros 32 million euros
Value of assets of insurance companies 1,15 billion euros 1,16 billion euros
Value of insurance liabilities 817 million euros 850 million euros
Expenses as a ratio to net insurance premiums (cumulative) 13% 13,6%
Solvency capital requirement coverage ratio 165% 164%


Total insurance premiums received in the first half of the year were 127 million euros, which was 10% more than in the first half of the previous year.

Unit-linked life insurance products, equity-linked products and other life insurance continued to account for the largest part of life insurance premiums.

Life insurance companies received claims for payouts of 31.7 million euros in the second quarter. Claims in the first half of the year were 63.3 million euros, which was 9% more than in the first half of 2018. Unit-linked life insurance continued to receive the most insurance premiums and claims.

The combined assets of life insurance companies grew by 1.6% in the second quarter from 1.15 billion euros to 1.16 billion. The market share of Swedbank Life declined by two percentage points to 53%, while Compensa Life had market share of 30% at the end of the second quarter and SEB had 17%.

The coverage of the solvency capital requirement by the life insurance sector fell by one percentage point in the second quarter to 164%. All the life insurance companies met the requirement.

Main development trends and risks

  • The main risk to the life insurance sector remains the low interest rate environment.
  • The regulatory changes planned by the European Commission remain unconfirmed. The biggest impact may be on the calculation of technical provisions, equity and capital requirements.