"This slackening is caused by the results of this year's two market leaders: MOLDASIG and ASITO, which remained approximately at the level reported in the first quarter of 2012. Thus, although certain insurers grew, the total underwritings volume remained at the same level, since the first two companies have a significant market share," Vladimir STIRBU, General Director of Insurance Supervisory Body CNPF, declared.
Moreover, "it is also a consequence of the macroeconomic realities in the country, the insurance industry being closely connected to the other economic segments," Vladimir STIRBU added.
Approximately 92% of the insurance business was reported on the non-life segment, while 8% corresponded to the life segment. At the same time, according to the supervisory authority in Moldova, as in the previous reported periods, the market portfolio was dominated by motor insurance: Motor Hull - 16.9%, MTPL - 20.3% and Green Card - 25%.
Access www.xprimm.com and download the 1Q2013 Moldavian insurance market statistics.
- Market portfolio: GWP/ Claims/Growth rates - in EUR and MDL
- Market ranking: GWP/Claims/Market shares/Growth rates - in EUR and MDL