The Financial Supervision Authority is about to begin publishing more extensive quarterly insurance statistics
From today, the FSA will publish on its website a considerably wider scope of quarterly financial and statistical information about insurance companies. From April 2008, the FSA will cease publishing monthly insurance statistics based on the Statistical Office's report.
Information will be published for each insurance company or Estonian branch of an insurance company, as well as on a consolidated basis. The main ratios of non-life insurance will be available across insurance companies and the chief types of insurance.
Statistical information on life and non-life insurance companies will cover gross and net payments, gross and net claims, and the numbers of valid, new, renewed and terminated contracts. Life insurance statistics also include surrenders and financial obligations under insurance contacts, as well as technical provisions. Additionally, non-life insurance statistics also cover reinsurance payments and the portion of reinsurance in indemnity claims, as well as the number and total amount of granted claims. Gross payments and paid-out claims for each type of insurance are published for branches of non-life insurers.
Financial information covers the balance sheet and profit and loss account information of life and non-life insurers.
An amendment to the Financial Supervision Authority Act, which entered into force on 1 January 2008, entitles the FSA to publish systematised or statistical information on supervised entities which reflect the entities' financial status in a generalised fashion, as well as their services or activities and any changes therein.
The information is published regularly on the FSA website, two months after the end of each calendar quarter, i.e. in June, September, December, and March. Information on 1Q2008 thus becomes available in June.