Moldova
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Moldova 3Q2023 Market Portfolio
Moldova 1H2023 Portfolio
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STATISTICS: MOLDOVA, 3Q2023: motor insurance occupies about 71% of the market
At the end of 3Q2023, the insurance sector in Moldova grew by almost 20%, reaching MDL 2.18 billion (EUR 114.13 million), according to data published by the National Bureau of Statistics of the Republic of Moldova. At the same time, market growth in euros differs slightly – 19.07%.
27 November 2023MOLDOVA: insurance sector’s assets are growing
The total assets of Moldovan insurance companies in 1H2023 increased to MDL 4.6 billion (EUR 0.23 billion). The growth rate was 8.9% (or by MDL 377.2 million), bizlaw.md writes.
30 October 2023MOLDOVA: insurance conditions in agriculture in 2023 have deteriorated sharply
According to insurance specialists, in 2023 the number and amounts of subsidized insurance contracts for agricultural risks in Moldova have not changed significantly compared to last year. This is considered a good result, since the framework conditions for the agroinsurance process have deteriorated sharply in 2023, east-fruit.com wrote.
19 October 2023Moldasig strengthens its leadership position in the insurance market of Moldova and is actively seeking investors.
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.
12 October 2023STATISTICS: MOLDOVA, 1H2023: over 67% of all market premiums generated by motor insurance
In the first half of 2023, the Moldovan insurance sector grew by 18.29%, reaching MDL 1.39 billion (EUR 70.03 million), according to data published by the National Bureau of Statistics of the Republic of Moldova.
18 September 2023MOLDOVA: in 1H total profit of the insurance sector grows by more than 44%
The National Bureau of Statistics of Moldovaа reported that from January to June 2023, total income and expenses of insurers increased by 27.4% and 25.9% y-o-y, respectively.
31 August 2023MOLDOVA: the number of farmers with insurance is increasing
The number of farmers insuring their land is growing in Moldova. The amount of compensation for farmers is 70% of the sum insured, while for cattle breeders the amount is even higher, said Minister of Agriculture and Food Industry Vladimir Bolea, noi.md wrote.
7 August 2023STATISTICS: MOLDOVA, 1Q2023: life insurance sees lightning-fast growth of more than 742%
The insurance market of Moldova ended 1Q2023 with a 44.10% annual GWP increase, reaching MDL 664.24 million (EUR 33.17 million), according to data published by the National Financial Market Commission. Paid claims of the local insurers increased by 26.90% to MDL 234.77 million (EUR 11.72 million).
4 July 2023Moldova: Starting July 1st, the Central Bank will take over the control of insurance market
Starting July 1st, 2023, the NBM - The National Bank of Moldova will take over from NCFM - The National Commission of Financial market the control of non-banking financial markets, including the insurance segment, local media wrote.
29 June 2023Renewed mandate for Dinu GHERASIM as President and CEO of DONARIS VIG
A new mandate for Dinu GHERASIM as President of the Board of Directors and General Manager at DONARIS VIG, the local subsidiary of the Vienna Insurance Group, was approved by the National Financial Market Commission (CNPF) of Republic of Moldova, on June 6.
8 June 2023MOLDOVA: gouble digit increase of the average premiums and claims value for the MTPL segment
Motor insurers operating in the Republic of Moldova reported an increase of 24.3% in the MTPL insurance GWP , while for the Green Card segment premiums went up by 52.7% y-o-y, according to data provided by CNPF - the market authority.
30 March 2023MOLDOVA: CNPF withdraws the license of GARANTIE SA
The Board of Directors of the National Commission of the Financial Market (CNPF) during the extraordinary meeting of March 9, 2023, approved the decision regarding withdrawal of the license of the insurance company GARANTIE SA (non-life) and submission to the insolvency court of the introductory request regarding filing of the insolvency procedure, moldstreet.com wrote.
29 March 2023STATISTICS: MOLDOVA, FY2022: the market grows by more than 28% in a year
The insurance market of Moldova ended 2022 with an increase of 28.28%, reaching MDL 2.47 billion (EUR 121.26 million), according to data published by the National Financial Market Commission. Paid claims amounted to MDL 905.68 million (EUR 44.44 million), which is 36.78% more y-o-y.
29 March 2023MOLDOVA: insurers consider active insurance for farmers in 2023 too big a risk
Moldovan insurance companies have suspended the process of concluding agroinsurance contracts with farmers due to the fact that they did not receive full subsidies under last year's contracts, east-fruit.com wrote.
7 February 2023MOLDOVA: according to preliminary data, in 2022 agricultural risk insurance premiums exceeded USD 4 million
According to preliminary data from Moldovan insurance companies, in 2022 total GWP under agricultural risk insurance contracts exceeded MDL 80 million (over USD 4 million), east-fruit.com reports.
9 January 2023MOLDOVA: total assets of the insurance sector increase by more than 20% over 9 months
Total assets of the insurance companies of the Republic of Moldova for the first 9M2022 exceeded MDL 4.3 billion (~EUR 0.22 billion), which is 20.5% higher y-o-y, md.sputniknews.ru writes.
21 December 2022STATISTICS: MOLDOVA, 3Q2022: GWP and paid claims see growth almost at the same level
The insurance market of Moldova at the end of 3Q2022 grew by 26.56% to MDL 1.82 billion (EUR 95.84 million), according to data published by the National Financial Market Commission. Paid claims reached MDL 585.80 million (EUR 30.84 million), which is 25.41% more than in the same period of 2021.
24 November 2022MOLDOVA: the number of premiums under agricultural risk insurance contracts in the first half of 2022 increased by 40%
In Moldova, the number of premiums collected by insurance companies under agricultural risk insurance contracts in the first half of 2022 increased by more than 40% compared to the same period last year, east-fruit.com wrote.
13 September 2022MOLDOVA: starting September the cost of MTPL policies increased
In Moldova, the cost of MTPL policies has increased. The decision was taken by the National Commission for Financial Markets (CNPF) on August 9 and entered into force on September 2, from the moment of publication in Monitorul Oficial.
7 September 2022STATISTICS: MOLDOVA, 1H2022: the market sees a 35% rise y-o-y in local currency
The insurance market in Moldova in 1H2022 rose by 34.62% to MDL 1.182 billion (EUR 58.77 million), according to data published by the National Financial Market Commission. Paid claims reached MDL 391.28 million (EUR 19.45 million), which is 27.57% up compared to the same period of 2021.
1 September 2022
