MOLDASIG, Moldova's insurance market leader, concluded the first half of 2023 with a net profit of MDL 15.98 million, marking an increase of approximately 19% compared to the first half of 2022. The operational result recorded during this period was MDL 7.06 million.
The company underwrote gross premiums totaling MDL 238.06 million, representing a 7.34% increase compared to the first semester of 2022. During the same period, paid claims amounted to MDL 53.77 million, a mere 1.8% higher than the previous year.
As of the end of March 2023, MOLDASIG held a market share of 24.6% in gross written premiums terms, strengthening its position compared to the end of 2022 when it controlled approximately 16.8% of the market.
It is worth noting that MOLDASIG is currently in the midst of a reform process and is offering an 80% stake in the company's share capital for purchase, in a unique package of tradable shares on the regulated market of the Republic of Moldova. The purpose of this offering is to strengthen the company's reputation and financial stability.
"As the entire insurance market in our country is on the path towards aligning with European insurance standards, Moldasig is going through a period of reform. We embarked on this renewal and reshaping of the company's ownership with the idea that an important criterion for a credible and successful business is the reputation and financial strength of its shareholders," stated Victor Coadă, CEO of Moldasig.
Characteristics of the newly issued securities offered for sale:
- Issuer's Full Name: Joint Stock Company "MOLDASIG"
- Type of Securities: Ordinary Nominal Shares
- Class of Shares: Class I
- ISIN Code: MD 14MOSI1005
- Nominal Value of One Share: 100 MDL (Moldovan Lei)
- Number of Newly Issued Shares Offered for Sale: 480,000
- Initial Selling Price of Newly Issued Shares: 358.10 MDL
- Rights Granted by One Share: Each ordinary nominal share issued by the Company grants the right to vote at the general meeting of shareholders, the right to receive a share of dividends, and a portion of the Company's assets in the event of its liquidation.
Investors interested by the acquisition may obtain information about the financial situation of the Company over the last three years, as well as a description of the business, by visiting the company's website, www.moldasig.md, or the regulated market website https://emitent-msi.market.md/en/.
Please note that, in accordance with current legislation, the newly issued shares can only be purchased by individuals who have obtained prior approval from the National Bank of Moldova.