MOLDOVA: EUR 13 million for the brokers at the end of September, 2011

11 January 2012 — Vlad BOLDIJAR
MOLDOVA: EUR 13 million for the brokers at the end of September, 2011
chisinau4MDL 212 million (EUR 13 million) was the volume of gross written premiums of insurance brokers in Moldova at the end of September 2011, show the financial indicators recently published by the Supervisory Authority. Compared to the correspondent period of 2010, in EUR, the growth was over 40%, and in MDL the real evolution (adjusted at the 8.8% inflation rate) was 30%.

In absolute terms, the premiums of brokers in Moldova have increased MDL 62 million compared to 3Q/2010. So, the brokerage market share in the insurance market, as it reached 28%, after at the end of September, 2010 it stood at 22%.

On insurance classes, a share of 7.1% (MDL 15 million) of the brokers business focused on life insurance, and 92.9% (over MDL 197 million) - on non-life insurance.

As for insurance companies, insurance brokers' portfolios are dominated by motor insurance (71.3%), of which 34.2% related to voluntary Motor Hull insurance, 15.3% - to compulsory MTPL, respectively 21.2% - to Green Card.

Other insurance classes that have generated significant business for insurance brokers were health policies (valid in Moldova and abroad), which represented, cumulated, 4.9% of the consolidated market portfolio, the equivalent of MDL 10.4 million, while, property insurances (fire, allied perils and other goods insurances, added-up), generated 14,4% of the total market (MDL 30.5 million).

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