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Statistical survey of motor liability insurance 2013–2017: Several changes in Finnish motor liability insurance market in 2017


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There were several changes in the motor liability insurance market in 2017. In Finland, there were 35 insurance companies providing motor liability insurance under the Motor Liability Insurance Act at the end of 2017, compared with 16 companies one year earlier. The biggest change in the number of insurance companies arose from an arrangement made in the LocalTapiola Group whereby motor liability insurance business was transferred from LocalTapiola General Mutual Insurance Company to 20 LocalTapiola regional companies. In addition, one motor liability insurance company left Finland when If P&C Insurance Company Ltd ceased operations and insurance policies began to be issued only via the branch in Finland of If P&C Insurance Ltd (publ). At the end of 2017, 29 of the motor liability insurers were Finnish insurance companies and six were foreign EEA insurance companies.

Premiums written on motor liability insurance in 2017 totalled EUR 740 million, an 11% decrease compared to the previous year. A comprehensive reform of the Motor Liability Insurance Act, which came into force at the beginning of 2017 and eased regulation on insurance pricing, contributed to the reduction in premiums. In 2017, the result recorded for motor liability insurance was EUR 167 million, which was 22% in proportion to premiums earned. The result was somewhat better than the average for 2013–2017. The result in proportion to premiums earned was 18% in the five-year reference period. Investment income was a significant component of the result, as investment income allocated to net technical provisions accounted for more than 15 percentage points of the average result. For the insurance class as a whole, business has been very profitable. There were notable differences, however, between companies and years as to the components of the result.

The FIN-FSA’s statistical survey of motor liability insurance is based on data compiled from insurance companies in the period 2013–2017. The survey presents tables, charts and calculations relating to premiums, market shares, key ratios and results. Key ratios for 2017 are also presented separately for motorcycle liability insurance. In addition to the aggregate data, financial performance data are published on a company-specific basis in a separate file.

For further information, please contact:

Pirkko Welin-Siikaluoma, Chief Actuary, tel. +358 9 183 5533 or pirkko.welin-siikaluoma(at)

Appendices (in Finnish)

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Regulator Information

Abbreviation: FIN-FSA
Jurisdiction: Finland

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