In 2009, Seesam International Insurance Company Ltd. collected a total of 464.6 million Estonian kroons in insurance premiums. By the end of 2009, Seesam’s market share in Estonia was 12.4 per cent.
According to Andri Püvi, Member of the Management Board of Seesam International Insurance Company Ltd. in 2009, Seesam collected 6% fewer insurance premiums in comparison with the year before. He points out that the positive side of the situation is the fact that the number of Seesam’s clients has increased by 12%. “The addition of clients shows people’s trust in Seesam as a long-lived and stable insurance company,” Püvi commented.
“Although the entire Estonian property insurance market decreased by 11.5 per cent last year, it was still a relatively successful year for us.All our employees have worked hard, we have opened new offices and expanded the sales network. However, 2010 will be much harder. The sales volumes of all insurance companies are decreasing and competition over the remaining clients in the market will grow. A decrease in prices might mean that some companies will remain in deficit,” Püvi said.
Last year, Seesam International Insurance Company Ltd. collected the most insurance premiums in the areas of voluntary motor insurance and motor third party liability insurance – a total of 311 million Estonian Kroons. In spite of the overall decline of the market, Seesam managed to deliver good results in the areas of travel insurance and household insurance – in comparison with 2008, the sums collected in insurance premiums in 2009 were higher by 17% and 10%, respectively.
Last year, Seesam International Insurance Company Ltd. compensated for 14,833 loss events in the total sum of 268.6 million kroons. In general, the number of compensated damages has remained at the same level than in 2008, but the total amount of compensatory allowances has decreased by 11% due to a decrease in damages to vehicles.
Seesam International Insurance Ltd. is a universal non-life insurance company established in 1991. Since 2004, Seesam International Insurance Company Ltd. Ihas been owned by the Finnish insurance concern Pohjola Group.