Estonia Insurance Report - Business Monitor International - Industry Reports

Estonia Insurance Report

Estonia Insurance Report - Business Monitor International - Industry Reports
Estonia Insurance Report
Published Aug 20, 2016
50 pages — Published Aug 20, 2016
Price US$ 1,295.00  |  Buy this Report Now

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Abstract:

As is the case in Latvia, we suspect that a lack of understanding of the benefits of life insurance is also an obstacle in Estonia, and that Estonians who can afford life insurance choose to invest in other asset classes, such as bank deposits or, real estate. ...The leading multi- nationals that dominate the life segment are well equipped to educate and advise new users, and to develop innovative products that will be affordable. Our Estonian life insurance sector growth forecasts are based on assumptions regarding the household income level growth of the country and macroeconomic soundness of the economy. An economic downturn, especially another one stemming from neighbouring Russia, could slow the economic engine and revise our forecast projections downwards in the future. Furthermore, growth is also predicated upon the ability of insurers to successfully enlighten the public on the benefits of life insurance. Their ability to successfully sell life products to first time buyers will be crucial in determining the actual level of growth over the next decade.

...There are several key factors to highlight in the insurance sector. First, the sector continues to be dominated by basic motor and property covers, which account for over -- of all premiums written, but are easily managed risks. ...We expect that non-life penetration will gradually trend upwards over the forecast period. Supporting this growth will be wider economic growth, as well as rising household incomes and wages which are correlated with higher spending powers and more big ticket purchases. Innovation by the insurers themselves should also help the growth of the segment. ...Supporting this growth will be wider economic growth, as well as rising household incomes and wages which are correlated with higher spending powers and more big ticket purchases. Innovation by the insurers themselves should also help the growth of the segment.

...Accounting for about one-fifth of total activity in the insurance sector, Estonia s life segment is underdeveloped by most standards and will remain so at the end of the forecast period The BMI Country Risk team holds a positive outlook for the macroeconomic fundamentals of Estonia going forward, supporting a healthy outlook for average household income rates. The income growth projected over the next five years is bound to expand the discretionary spending powers of the middle class. ...The income growth projected over the next five years is bound to expand the discretionary spending powers of the middle class. The most crucial segment, the household income group falling between USD--,--- to USD--,--- annually, is set to grow significantly over the medium term, while we will also see slight growth in the number of households in the next income bracket USD--,--- to USD--,---. We believe this offers a great opportunity for multinational insurers to specifically target first-time buyers. ...

  
Source:
Document ID
1752-8259
Country
Industry
Format:
PDF Adobe Acrobat
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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Cite this Report

  
MLA:
Business Monitor International - Industry Reports. "Estonia Insurance Report" Aug 20, 2016. Alacra Store. Dec 09, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Estonia-Insurance-Report-2026-709>
  
APA:
Business Monitor International - Industry Reports. (2016). Estonia Insurance Report Aug 20, 2016. New York, NY: Alacra Store. Retrieved Dec 09, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Estonia-Insurance-Report-2026-709>
  
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