News release 16 November 2022 – 15/2022

Statistical survey of workers’ compensation insurance 2017–2021: Strong development of result on insurance activities continued in 2021

In 2021, premiums written on workers’ compensation insurance totalled EUR 563.0 million, compared with EUR 563.3 million in 2020. Premium written declined by 0.1% from the previous year. The market remained concentrated. The four largest companies’ share of premiums remained at approximately 94%, while ten insurance companies were operating in Finland. Of the companies providing workers’ compensation insurance, eight were Finnish companies and two were branches of foreign insurance companies.

In 2021, the result recorded was significantly above the average level. The result of EUR 238 million was approximately 42% in proportion to net premiums earned, whereas the five-year average ratio is approximately 23%. The result was based on a further improvement in the technical result, which was EUR 80 million. The technical result was supported by the societal impact of the COVID-19 pandemic, but also by a reduction in the result-weakening impact of changes in the calculation principles of technical provisions. The technical result, adjusted for changes in the calculation principles, remained strong and was practically the same as in 2020, i.e. a profit of EUR 98 million. Investment activities, on the other hand, produced an average result of EUR 158 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 Financial Supervisory Authority’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:

Iiro Marttila, Actuary, tel. +358 9 183 5482 or iiro.marttila(at)

Appendices (in Finnish)