News release 17 December 2020 – 20/2020

Statistical survey of workers’ compensation insurance 2015–2019: 2019 was a peak year for investment activities, but the underwriting result was depressed by supplementary provisions made towards the end of the reference period

In 2019, premiums written on workers’ compensation insurance totalled EUR 592 million, compared with EUR 565 million in 2018. Premium written grew by 4.8% from the previous year. The market was even more concentrated, with the four largest companies accounting for 91% of premiums compared with 89% a year earlier. In Finland, there were 11 insurance companies providing workers’ compensation insurance at the end of the year, a reduction of one company from the previous year. Of the insurance companies providing workers’ compensation insurance, nine were Finnish companies and two were branches of foreign insurance companies.

In 2019, the result recorded was of an average level. The result of EUR 67 million was approximately 11% in proportion to net premiums earned, whereas the five-year average ratio is approximately 10%. The factors contributing to the result, however, were significantly different from normal. The technical result recorded by workers’ compensation insurance was a loss of EUR 215 million, largely due to supplementary interest rate provisions made in 2019. This was EUR 120 million below the five-year average result for workers’ compensation insurance. Investment activities, on the other hand, recorded a result of EUR 283 million, which exceeded the five-year average result by EUR 130 million.

For the insurance class as a whole, business has been profitable, but there were notable differences, however, between companies and years as to the components of the result.

The FIN-FSA’s statistical survey of workers’ compensation insurance is based on data compiled from insurance companies. The survey presents tables, charts and calculations relating to premiums, market shares, key ratios and results. 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

Toni Blomster, Chief Actuary, tel. +358 9 183 5318 or toni.blomster(at)

Appendices (in Finnish)