In December 2011, Seesam indemnified losses in worth of 1,26 mln EUR to its clients. A third of indemnifications (421 000 EUR) regarded motor vehicle insurance, which were followed by household and MTPL insurance indemnifications in total of 305 thousand and 288 thousand euros.
Compared to November, the level of indemnifications decreased by a tenth. Looking at insurance lines separately, corporate property indemnifications increased by 71%, MTPL by 56% and home insurance by 45%. On the other hand, motor vehicle losses were paid out 19% less than in November.
According to the Head of Seesam’s Claims Handling Department, Ly Jõhvik, December’s results were affected by several large indemnifications. MTPL indemnifications increased due to payments to victims of traffic accidents – treatment and maintenance costs reached 31 and 25 thousand EUR. Indemnifications in home insurance were conjunct to fires and piping breaks, including two payments, which exceeded 55 thousand EUR and five payments, which were between 11 and 26 thousand EUR. ‘Since December is usually the time, when the year is being summarized, insurance companies also receive final materials concerning indemnification applications. This influences the volume of indemnifications substantially,’ explains Jõhvik.
During January-December 2011, Seesam indemnified losses for 17,8 mln EUR. Comparing 2011 and 2010, when indemnifications were paid out for 18 mln EUR, the level has almost stayed the same. In December, Seesam gathered insurance premiums for 1,96 mln EUR, during the whole year premiums were collected in worth of 24,7 mln EUR.
Seesam Insurance AS is the fourth biggest non-life insurance company on Estonian insurance market, with a market share of 11,4%. The company, which was founded in 1991, offers insurance services for private and corporate clients. Seesam is an employer to almost 160 people and has offices in 11 Estonian cities. Owner of Seesam Insurance AS is the Finnish leading financial corporation OP-Pohjola Group.
Additional information:
Eve-Liis Arvisto
Marketing Specialist
Seesam Insurance AS
Vambola 6, 10114 Tallinn, ESTONIA
Phone +372 628 1882
eveliis@seesam.ee, www.seesam.ee