Insurance, Companies & Insurance Quote
Finland is a well-developed market offering variety of insurance products to its Finnish customers. The insurance providers in Finland are companies with good capital markets and insurance schemes.
After the restructuring in 1980s, nearly fifty insurance companies emerged in large five groups and the other investments comprised of real estate and insurance firms.
Insurance here is well developed as well as diversified. 16 out of 56 Finnish insurance companies deal with life insurance. The premium income in 1990 accounted to US$1901 per capita or GDP6.5%.
The life insurance in 1994 totaled M85.6 billion. The non-life insurance firms comprised of Sampo with market share to 33%, Tapiola with 13%, Pohjola with 24% in 1996.
The premium income in 1995 from life insurance was increased by 45% and the voluntary pension insurance by more than 30%. Finnish households in 1996 estimated M 200 billion and voluntary pension insurance to M 30 billion.
The insurance premiums in 2009 totaled to EUR 16.5 billion. The pension insurance companies also revealed over 10% returns and the life insurance companies showed big growth with premiums increasing to EUR 3 billion representing 17% growth.
The increase totaled to EUR 30.3 billion in life insurance saving by 2009 end and this showed an increase of 10% more than the earlier year.
Types of insurance
The prominent types of insurance in Finland are worker’s pension insurance, worker’s compensation insurance and hunter’s liability insurance. The insurance in Finland is regulated by the Insurance Supervisory Authority. The leading companies that are the insurance providers in Finland include life insurance as well as non-life insurance and this is determined on the calculations of grow written premiums.
The private insurance companies in Finland deal with statutory insurance security like statutory accident insurance and employment pension. However, the ISA supervise the insurance companies’ activities.
Major insurance companies
The major companies dealing insurance in Finland are namely, Nordea Insurance, Kaleva Insurance, Henki- Sampo Insurance, Henki-Fennia Insurance, Suomi-Yhtio Insurance, Henki-Tapiola Insurance and Henki Scandia Insurance.
The Finland Insurance companies dealing with non-life insurance are Vahinko-Pohjola Insurance, Pohjantahti Insurance, Fennia Insurance, Turva Insurance, Vahinko Tapiola Insurance, Vahinko Veritas Insurance and A-Vakuutus Insurance.
Insurance in Finland covers business, industrial insurance and variety of other insurances covering corporate insurance customers and private customers.