MOLDOVA 3Q2015: Stagnation in GWP, decreasing claims expenses

12 November 2015 — Olesea ADONEV
The GWP, in the first nine months, by the 15 Moldavian insurance companies active on the local market, totaled MDL 909.25 million (EUR 44.16 million), up by 1% y-o-y, according to the official data published by the National Commission of Financial Market of Moldova.

Due to depreciation of the national currency against the EUR by 9%, the GWP figure denominated in European currency showed a 8.83% decrease, to EUR 44.16 million.

In the reporting period, the claims paid by insurers decreased to MDL 251.10 million, down by 40% compared to January-September 2014.

According to the National Commission of Financial Market of Moldova the first 5 insurance companies by the GWP volume were MOLDASIG, with a market share of 17.20%, followed by GRAWE CARAT Insurance (13.91%), DONARIS GROUP VIG (13.61 %), ALLIANCE Insurance Group (10.80%) and KLASSIKA Insurance (7.32%). At the same time, the market share held by the first 5 companies generated about 67% of the total underwritings market in 1H2015.

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