Insurance companies in the Republic of Moldova have registered gross written premiums amounting to EUR 54.4 million in 2008 (calculated at the average exchange rate, according to the Moldavian National Bank), in nominal increase of 24.8% compared to 2007. Meanwhile, they paid claims of EUR 17.6 million, with 24.2% more compared to 2007. Gross profit of insurers represented EUR 11.7 million, an 150% increase, according to data provided by the National Commission of the Financial Market.

In the analyzed period, the mandatory insurance segment generated gross premiums of EUR 22 million, or 40% of the market, growing by 25.6% compared to 2007, while voluntary insurance registered underwritings of EUR 32.4 million, up 27% compared to 2007.
Therewith, the life insurance segment amounted to EUR 3 million, increasing by 53% compared to the previous year, continuing to have a modest share in the total of the market, of 6% (4.6% in 2007).

A similar situation is also registered for financial risk insurance, agricultural insurance and professional liability insurance, with extremely low shares, 1%, 5.4% and, respectively, 0.15%.
The Moldavian insurance market remains quite concentrated, so that the top three companies own a share of almost 60%, and Top 10 of the 33 registered companies cumulate 87.15% of the total market, that is EUR 47.71 million.

MOLDASIG and ASITO remained the leaders in the top of the profile companies in 2008 as well, with market shares of 29.9% and, respectively, 22.6%. They are followed in Top 5 by MOLDCARGO, with a share of 7.1%, CARAT - 6.6%, and DONARIS-GROUP - 5.9%.

Total assets of insurance companies reached, in the reported period, EUR 87.2 million, and net assets amounted to EUR 42.9 million, while reserves have cumulated EUR 28.58 million and the paid off social capital, EUR 21,1 million.*click on image for details