Moldova
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MOLDOVA: first online conference "Insurance - between pandemic challenges and market strengthening"
On June 25, 2020, the first online conference "Insurance - between pandemic challenges and market strengthening", dedicated to the Moldovan insurance market, took place in Chisinau. The conference was organized by XPRIMM with the support of the National commission on the financial markets of the Republic of Moldova (CNPF) and the National Bureau of Motor insurers.
2 July 2020STATISTICS: MOLDOVA, 1Q2020: In spite of market GWP volumes' general decline, MTPL increased by more than 18%
The insurance sector of Moldova ended the first quarter of 2020 with a decline in GWP volumes, both in national currency (-1.11%) and in euro (-4.47%*). GWP amounted to MDL 339.30 million (~EUR 16.87 million*), according to the data published by the National Commission of Financial Market.
18 June 2020MOLDOVA: the impact of the pandemic has led to a significant decrease in voluntary insurance and Green Card segments
The 2020 pandemic affected all sectors of Moldovan economy, including the insurance sector. Total number of new insurance contracts has decreased dramatically in the past months, a sharp decline being noticed in segments such as voluntary insurance and Green Card, CapitalMarket reports.
28 May 2020MOLDOVA: in 2019, almost 94% of total GWP generated by the non-life sector
According to the data of the National Commission on the Financial Markets of the Republic of Moldova (CNPF), in 2019 local insurance companies collected 7% more GWP y-o-y, informed the Chairman of the Administrative Board of CNPF, Valeriu CHITAN.
7 April 2020MOLDOVA: CNPF employees donates MDL 100 thousand for the fight against COVID-19
The employees of the National Commission of the Financial Market (CNPF) decided to contribute with a financial contribution in the amount of MDL 100 thousand (about EUR 50 thousand) to support the actions taken by the state institutions in combating the COVID-19 virus.
30 March 2020STATISTICS: MOLDOVA, FY2019: GRAWE was the sole life insurer, with 100% market share
At the end of 2019, the Moldovan insurance market recorded an increase of 7.02% y-o-y in local currency. Market GWP went up to MDL 1.6 billion (~EUR 84.4 million), while the growth rate of paid claims was more prominent (+19.09%), according to the latest data published by the National Commission of Financial Market (CNPF).
19 March 2020MOLDOVA: Alina OSOIANU returns to BNAA leadership
Starting January 6th, 2020, Alina OSOIANU returns to the position of Executive Director of Moldovan Motor Insurers Bureau (BNAA). It will be the second time when she holds this position inside BNAA, after she lead the institution between 2015-2018.
29 January 2020MOLDOVA: insurers might lose their right to issue Green Card policies
The Green Card System Monitoring Committee will decide in the nearest time whether Moldova will be excluded from the international insurance system, Valeriu CHITAN, announced.
6 January 2020STATISTICS: MOLDOVA, 3Q2019: market share of the key market segment - motor insurance dropped by almost 7% y-o-y
The Moldovan insurance sector ended the 3rd quarter of 2019 with GWP in the amount of MDL 1218.15 million (EUR 62.80 million), which in local currency is 11.53% more y-o-y, as the data, published by the National Commission of Financial Market show.
21 November 2019MOLDOVA: financial recovery of Moldova-Astrovaz SA and Klassika Asigurari SA continues
The financial recovery procedure, introduced in July 2019, of Moldova-Astrovaz SA and Klassika Asigurari SA continues, Capital.market reports with reference to the National Financial Market Commission (CNPF) press service.
22 October 2019MOLDOVA: World Bank appreciates supervisor's work and is ready to further assist in reforming the insurance market
At the end of September 2019, the World Bank's (WB) final mission from Chisinau was to assist in the implementation of the Moldovan insurance market reform, as Capital.market reports.
8 October 2019MOLDOVA: TAIEX experts and representatives of the Romanian regulator conducted trainings on MTPL liberalization
The latest report of Capital.market, that references the Supervisory Authority (CNPF) press service, mentions the visit that the European Commission has made in Moldova, through the Technical Assistance and Information Exchange program.
18 September 2019MOLDOVA: peaceful settlement of traffic accidents to significantly simplify damage compensation
As of September 8, 2019, a procedure exists for peaceful settlement of traffic accidents without police documentation, Capital.market reported, according to the press-service of the National Commission for Financial Markets (CNPF).
12 September 2019STATISTICS: MOLDOVA, 1H2019: paid claims growing more than twice as fast as GWP in local currency
In the first half of 2019, Moldovan insurers generated GWP in the amount of MDL 769.48 million (EUR 37.27 million), about 9% more y-o-y. At the same time, growth of paid claims was much more impressive - by 18.81%, up to MDL 347.02 million, according to the official data published by the National Commission of the Financial Market in Moldova (CNPF).
29 August 2019MOLDOVA: ACORD GRUP: MTPL and Green Card dominate the market
The Moldovan market is underdeveloped and affected by disloyal competition. The largest share in insurer portfolios is MTPL and Green Card, since this insurance is mandatory, says Natalia ROSCA, General Director of Acord Grup.
7 August 2019MOLDOVA: the base MTPL premium to grow by approximately 8% from July 1
From July 1 this year, a new procedure for premium calculation in MTPL entered into force in Moldova and an estimated premium was introduced as part of tariff liberalization for the segment, reports Capital.market (the informational pamphlet of the National Financial Market Commission (CNPF).
11 July 2019STATISTICS: MOLDOVA, 1Q2019: market paid claims rose more than 68% in national currency through slight increase of GWP
In 1Q2019, the Moldovan insurance market grew 3.31% y-o-y, to MDL 343.10 million (EUR 17.66 million). Market paid claims increased significantly, by 68.59% to MDL 120.92 million (EUR 10.49 million), according to data published by the National Commission for Financial Markets (CNPF).
6 June 2019MOLDOVA: an important step for market liberalization to take place July 1st
On July 1, 2019, insurance market liberalization begins in Moldova. After this date insurance companies will independently set tariffs for MTPL and Green Card, which are currently set by the supervisory authorities, Sputnik Moldova news agency reports.
30 May 2019HALKBANK wants to further expand activity in Balkans
Turkey-based Halkbank announced the acquisition of Macedonian Nova Insurance, and now shows interest in investing in Moldova, too. Halkbank is already active in North Macedonia and Serbia, making Moldova the third country in the region Halkbank wants to develop.
23 May 2019The profit of the insurance companies Moldova fell to a third
1 April 2019
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