MOLDOVA, FY2013: The insurance market increased by 9.89%

24 April 2014 —
moldova-statisticsThe Moldavian insurance market remained on a positive trend last year, with a GWP increase of 9.89% to MDL 1.2 billion (EUR 71.6 million), compared with MDL 1.09 billion (EUR 70 million) in 2012, according to the official figures published by the National Commission for Financial Markets of the Republic of Moldova (NCFM).

In the same period, the value of gross claims paid totaled MDL 432.45 million (EUR 25.86 million), up 0.45% over 2012 (430.51 million lei - 27.66 million euros).

According to the reported results, the MTPL and Green Card insurance segments generated gross premiums worth MDL 485.24 million (EUR 29 million). These motor insurance types of policies have generated about 47% of the market turnover.

The amount of the claims paid on MTPL insurance line amounted to MDL 85.6 million (EUR 5.11 million), recording a decrease of 1% in comparison with January - December 2012 - MDL 166.52 million (EUR 9.96 million). On the Green Card insurance class were paid claims of MDL 71.17 million (EUR 4.25 million) compared to MDL 79.90 million (5.13 million euros) a year earlier.

The largest insurer remains MOLDASIG (28.7 % market share), followed by ASITO (15.9%), GRAWE CARAT Asigurari (10.9%), MOLDCARGO (10.2%) and DONARIS GROUP (8.4%). The insurance concentration by total gross written premiums of the top 5 insurance companies decreased to 74.2%, compared with 76.7% at the end of December 2012.

On 30 December 2013 were 16 active insurance companies on the market.

Mediation market is heading towards 30% of the insurance market

MDL 320.76 million (EUR 19.2 million) was the volume of gross written premiums of insurance brokers in Moldova last year, show the financial indicators published by the Supervisory Authority. Compared to 2012, the mediation market increased over 10%.

At the same time, the brokerage market share in the insurance market reached 26.8% at the end of December, the same as for 2012.

As for insurance companies, insurance brokers' portfolios are still dominated by motor insurance 77.8%.

Access and download the FY2013 Moldavian insurance market statistics (in EUR and MDL).

  • Market indicators (GWP/Claims/Growth rates)
  • Market ranking (GWP/ Growth rates/Market shares)

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