News release 28 November 2019 – 8/2019

Statistical survey of workers’ compensation insurance 2014–2018: Underwriting result positive in 2018

In 2018, premiums written on workers’ compensation insurance totalled EUR 565 million, compared with EUR 556 million in 2017. Premiums written therefore grew by 1.7% from the previous year. In Finland, there were 12 insurance companies providing workers’ compensation insurance, of which 10 were Finnish insurance companies and two were branches of foreign EEA insurance companies. The market was highly concentrated, with the largest four companies accounting for approximately 89% of premiums.

In 2018, the result recorded by workers’ compensation insurance was better than in the previous year. The result was EUR 92 million, which was approximately 16% in proportion to net premiums earned. In the previous year, the corresponding ratio had been 13%. The improvement was mainly due to the underwriting result, which in 2018 was positive for the first time in the reference period 2014–2018. In contrast, investment income for 2018 fell short of the previous year’s figure. The average result ratio for the reference period was 11%. For the insurance class as a whole, business has therefore been profitable on average in the reference period. 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 in the period 2014–2018. 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:

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

Appendices (in Finnish)