Estonian news update

A new Insurance Activities Act will be in force from 23.2018 in Estonia. This new act is done according to IDD directive and fully meets with requirements in IDD.

Estonian financial services market overview made by FSA –

Estonian news update

There is quiet pressure on the insurance market to increase prices

Estonian insurance sector leaders joining IIZI Kindlustusmaakler

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Key News about Estonia

March 2016, some key news about Estonia:
· From 01.01.2016 we have new Insurance Activities Act –
· From 01.03.2016 Compensa Vienna Insurance Group started non-life sales in Estonia. Also IIZI started cooperation with Compensa.
· From 01.01.2016 IIZI started activly selling Life insurance and Pension products to clients. Also separated department was established for that.

The executive management of IIZI Kindlustusmaakler AS has bought the majority holding in IIZI Group AS

iiziIIZI Group AS announces that the executive management and the key personnel of IIZI Kindlustusmaakler AS, lead by the company’s managing director Igor Fedotov, have acquired the majority holding in the IIZI Group from the previous owners. The main motivation behind the aquisition was the fact that the business activities of the IIZI Group have been divided into two— the successful start‐up Insly offers software for the global market and the market leader IIZI focuses on offering new exciting insurance mediation services. The transaction provides today’s executive management with greater possibilities for further development of the business activities within the field of insurance mediation services.

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The latest Estonian Financial market overview

Download the latest Estonian Financial market overview.

Estonian Non-Life insurance report

This report gives wider overview about insurance business in Estonia.

Download the report

Negotiations about new insurance law

The negotiations about new insurance law are started and new law must be efective from January 2015. Main issue will be brokers fees and how clients are served by brokers, agents or directly by insurance company.