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Inges Kindlustus Changed Owners and Rebranded

Estonia’s oldest insurance company, Inges Kindlustus, recently changed ownership and has been operating under the name Elama Kindlustus AS since November. These changes do not affect the company’s existing insurance contracts or previously offered services.

“We see opportunities in the Estonian insurance market to provide better services. We believe that insurance should primarily be simple and fast. As Elama is a locally owned Estonian company, we understand the market needs well and can offer the best service,” said Jaanus Seppa, Chairman of the Management Board of Elama Kindlustus AS.

“Better customer service is ensured in case of claims, as all claims are handled locally in Estonia without the need for additional approvals. We have also upgraded our old software systems, and thanks to better technology, we can respond more flexibly to market changes and customer expectations. Today, we offer several new insurance products that take real customer needs into account. For example, we provide flexible and customizable Motor Own Damage insurance and Motor Third Party insurance with additional coverage options,” explained Tanel Kurs, a member of the Management Board of Elama Kindlustus AS.

“Our goal is to offer the best quality in customer relations so that claim handling and purchasing suitable insurance coverage is clear and transparent for customers. While large international insurers see the Estonian market as marginal, the Elama team consists of people who care about Estonia’s economy and the well-being of its people and are committed to both,” added Indrek Holst, Chairman of the Supervisory Board of Elama Kindlustus AS.

Elama Kindlustus AS currently serves around 44,600 customers. The largest share of its portfolio consists of traffic insurance policies, where the company holds a 5% market share. In 2025, Elama plans to introduce new insurance products and aims to grow its market share to 5% of the entire Estonian insurance market in the coming years.

For the first nine months of 2024, Elama Kindlustus AS achieved a gross premium volume of €6.3 million, with a net profit of €1 million.

As of November 1, 2024, the new business name of Aktsiaselts Inges Kindlustus is Elama Kindlustus AS, with a new brand name Elama and a new website elama.ee. Other company details, including the legal address and registration code, remain unchanged.