News release 31 January 2020 – 1/2020

Statistical survey of motor liability insurance 2014–2018: Weak investment income adversely impacted the motor liability insurance result in 2018

Premiums written on motor liability insurance under the Motor Liability Insurance Act in 2018 totalled EUR 710 million, a 4% decrease on the previous year. Premiums written on motor liability insurance declined for the third year in succession. In Finland, motor liability insurance was provided by 29 insurance companies and six foreign EEA insurance companies. Foreign insurance companies accounted for 22% of the market.

In 2018, the result recorded by motor liability insurance, after deducting the reinsurers’ share, was EUR 72 million. In ratio to net premiums earned, this represented a result of 11%. The result percentage was approximately half of the previous year’s figure and lower than the average of 16% for 2014–2018. The deterioration of the result was mainly due to a decline in investment income allocated to the result. Investment income was the weakest of the reference period, and for many companies, investment income was negative. The loss ratio, on the other hand, was the lowest (69%) of the reference period, which contributed to improving the result. The combined ratio of motor liability insurance was 94%. For the insurance class as a whole, business continued to be profitable. There were notable differences, however, between companies and years with regard 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 2014–2018. The survey presents tables, charts and calculations relating to premiums, market shares, key ratios and results. From 2017, key ratios 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)