The two Estonian life insurers received 71 million euros in insurance premiums in the third quarter, which was 8% more than in the previous quarter.
Total insurance premiums received in the first nine months of the year were 205 million euros, which was 10% more than in the first nine months of the previous year.
Key indicators |
Q2 2021 | Change | Q3 2021 |
|---|---|---|---|
| Value of insurance premiums | 66 mln € | ↑ | 71 mln € |
| Value of claims incurred | 33 mln € | ↓ | 53 mln € |
| Value of assets of insurance companies | 1.28 bln € | ↑ | 1.3 bln € |
| Value of insurance liabilities | 951 mln € | ↓ | 949 mln € |
| Solvency capital requirement coverage ratio | 155% | ↑ | 167% |
The two Estonian life insurers received 71 million euros in insurance premiums in the third quarter, which was 8% more than in the previous quarter.
Total insurance premiums received in the first nine months of the year were 205 million euros, which was 10% more than in the first nine months of the previous year.
Unit-linked life insurance products, insurance with profit participation, and other life insurance continue to account for the largest part of life insurance premiums. Non-life insurance accounted for 9% of premiums in the first nine months of the year.
Claims incurred in the third quarter of 2021 exceeded 53 million euros in value, an increase of some 63% from the previous quarter. The strong growth was caused by payouts to clients who terminated their second pension pillar contracts in September.
The combined assets of life insurance companies grew in the third quarter by 2% from 1.28 billion euros to 1.30 billion. There were no major changes in market share measured by balance sheet.
The coverage of the solvency capital requirement by the life insurance sector increased in the third quarter from 155% to 167% as one insurer introduced a transition measure for technical provisions.