MDL one billion (EUR 61.6 million) wrote in premiums the Moldavian insurers in 2011, 10% more than a year earlier, according to the final financial data centralized by the National Commission of Financial Market (NCFM). Claims reached MDL 348.4 million (EUR 21.3 million), an 8% increase in comparison to previous year. "Last year, the share of insurance market in GDP was 1.3%. If this indicator will reach 3%, as in developed countries, it is clear that doubling the market (MDL 2 billion) is a possibility for the next years", said Vladimir STIRBU, Director of Insurance Department of NCFM.The life insurance segment increased by 22% to MDL 65.5 millions, but remains for a modest 6.5% share of the total market. Moreover, competition in this segment is very small, only two specialized companies activating on the market: GRAWE CARAT Asigurari (market share of 94%) and SIGUR-ASIGUR.
On the non-life insurance segment, Motor insurance (Motor hull, MTPL, Green Card and other motor insurance, added-up) generated MDL 637.9 million in premiums, or 64% of the market, while property insurance (Fire, allied perils, and other goods, added-up) totalized MDL 107.5 million, 4.5% less comparing to previous year.
The top companies are MOLDASIG and ASITO, with 28%, respectively 15.5% market shares. They are followed by GRAWE CARAT Asigurari, with 11.5%, MOLDAGRO, with 9.4% and DONARIS - GROUP - 8.4%.
Access www.xprimm.com and download the FY2011 Moldavian insurance market statistics.
Market portfolio (in EUR and MDL):
- Gross written premiums
- Paid claims
- Growth rates
- All insurance market
- Life insurance
- Non-life
- Motor hull
- MTPL
- Green Card
- Fire & allied perils
- Damages to property
- GTPL
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