News release 14 November 2022 – 14/2022

Statistical survey of traffic insurance profitability 2017–2021: Results were affected by low interest rate environment, corona and shortened life expectation

In 2021, premiums written on traffic insurance totalled EUR 735 million, compared with EUR 721 million in the previous year. Premiums written therefore grew by two percent from the previous year. At the end of 2021, traffic insurance was provided in Finland by the same 32 insurance companies as previously. Of these 26 were Finnish companies and six were foreign EEA insurance companies.

In 2021, the result recorded by traffic insurance was 239 million euros, consisting of 93 million euros in underwriting result and 146 million euros in investment returns. In proportion to premiums earned, the result was 34%, which was doubled compared to the average in the earlier review period 2016–2020. The underwriting result was weakened by interest rate-based changes made to the calculation principles of technical provisions but improved by changes made to the mortality model shortening the expected payment period of pensions.

The decrease in traffic volumes due to the coronavirus pandemic was still reflected in the traffic accidents. Accidents reported to insurance companies year 2020 were as much as 17% fewer than in the previous years. The paid claims both years 2020 and 2021 have seen a reduction of 5 percent compared to the previous 5 years.

For the insurance class as a whole, business has been profitable, but there were major differences, however, between different companies and different years.

The FIN-FSA’s statistical survey of traffic insurance is based on data compiled from insurance companies. The survey presents besides information of realized results and their background data also market shares and other descriptive information.

For further information, please contact

Toni Blomster, Chief Actuary, tel. 09 183 5318 or toni.blomster(at)