Last week, the supervision authority of the Moldavian insurance market authorized the decrease from 80% to 0% of the share owned by the Russian company ROSGOSSTRAKH in the capital of MOLDASIG, the leader of the Moldavian insurance market.

According to the Chisinau press, ROSGOSSTRAKH intends to sell its 80% of MOLDASIG's shares because the Russian group wants to focus on the development in the Russian Federation. According to certain market sources, they are currently negotiating with a number of potential buyers and the decision will be announced shortly.

At the end of October 2011, the leader of the Moldavian insurance market extended on the Romanian market, MOLDASIG being authorized by ISC to buy the company ASITO KAPITAL.

MOLDASIG was founded in 2002 by three companies with shareholdings mostly owned by the State: The Economy Bank - 51%, The Moldavian Railway - 25% and the Moldavian Postoffice - 24%. In 2008, ROSGOSSTRAKH became the owner of 80% of shareholdings, after a capital increase of MDL 48 million.

With business totalizing over EUR 17.3 million at the end of 2001, MOLDASIG was the largest insurer in the Republic of Moldova, the market share of the company reaching 28%. At the same time, with MLD 60 million, MOLDASIG is the second most capitalized insurance company in the Republic of Moldova, after SIGUR-ASIGUR (MDL 67.4 million).

With more than 90 years of experience, ROSGOSSTRAKH is one of the largest players on the Russian insurance market (leader on the non-life segment), with over 25 million clients natural persons, 250.000 corporate clients and around 100.000 employees - of which 65.000 are agents. In Russia, the company owns approximately 3000 regional offices and 400 claims centers. Internationally, besides the Republic of Moldova, the ROSGOSSTRAKH Group also activates in Ukraine (through the company PROVIDNA) and Armenia (RGS-Armenia).