Loss ratio of non-life insurance in Finland 2020, by type
premiums written for this insurance type was 584 million euros. Loss ratio is a measure used in the insurance sector to help gauge the profitability of a company and represents the ratio between the claims paid out and total premiums earned.
In the non-life insurance sector in Finland in 2020, the loss ratio was highest for the insurance category legal expenses and other direct insurance, at 87.8 percent. This is followed by the insurance category workers' compensation, at 78.6 percent. In Finland, workers’ compensation is part of the social security system, and all employees are covered. In 2019, the