Moldova
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Moldova 3Q2021 Market Portfolio
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STATISTICS: MOLDOVA, 3Q2021: the share of non-life insurance exceeded 95% of GWP
In the third quarter of 2021, the Moldovan insurance market ended with y-o-y growth of more than 35% (MDL 1.43 billion/EUR 69.83 million) in local currency. At the same time, the growth in paid claims was very moderate - at the level of 6.53% (MDL 467.10 million), according to the data published by the National Financial Market Commission.
17 November 2021Ecaterina Caraman might take over soon the heading position of Moldovan National Financial Market Commission
Ecaterina Caraman, head of the Corporate Investment Department within Moldova Agroindbank (MAIB) could be appointed to lead the National Financial Market Commission (NCFM), the autonomous public authority that authorizes, regulates and supervises the activity of participants in the non-banking financial market in the Republic of Moldova.
14 October 2021STATISTICS: MOLDOVA, 1H2021: GWP increased by more than 29% y-o-y, while paid claims remained almost unchanged
In 1H2021, the insurance sector of Moldova recorded a GWP increase by more than 29% y-o-y, up to MDL 878.01 million (EUR 41.03 million).
1 September 2021MOLDOVA: Asterra Grup received a gold medal at the Moldovan Business Gala
Asterra Grup was awarded the Gold Medal in the category "Financial Services" on June 25 within the "Trademark of the Year 2020" competition, organized by the Chamber of Commerce and Industry of Moldova in partnership with the State Agency for Intellectual Property, CapitalMarket reports.
6 July 2021MOLDOVA: in the first three years since introduction of the strategy for the non-bank financial market development, about 80% of measures implemented
In the first three years since introduction of the strategy for the development of the non-banking financial market for 2018-2022, about 80% of the measures included in the Action Plan have been implemented, stated CNPT representatives for xprimm.md.
30 June 2021MOLDOVA: a well-thought-out strategy allowed GENERAL ASIGURARI to become one of the TOP-3 in the market
For four years of work since creation in 2016, GENERAL ASIGURARI entered the TOP-3 companies in Moldova. According to the results of 1Q2021 (GWP volume), the company ranks 3rd in the insurance market and 2nd in the non-life insurance market, said Vitalie BANARU, CEO of GENERAL ASIGURARI SA, in an interview with Capital Market.
17 June 2021STATISTICS: MOLDOVA, 1Q2021: the share of non-life insurance in the market portfolio exceeded 93%
In the first three months of 2021, the insurance market in Moldova expanded by almost 15% y-o-y in local currency to MDL 389.65 million (EUR 18.44 million).
3 June 2021A package of 10.2% shares of MOLDASIG is put up for auction by Banca de Economii
The 61,200 shares of MOLDASIG with a cost over one million USD have been put up for auction by Banca de Economii (The Savings Bank), which is in the liquidation procedure, www.xprimm.md reports.
13 May 2021STATISTICS: MOLDOVA, FY2020: market decline slightly slowed down after the third quarter and by the end of the year amounted to about 11%
The insurance market of Moldova ended 2020 with a total GWP drop of almost 11% y-o-y in local currency (MDL 1.45 billion/EUR 68.77 million). Paid claims decreased by 8.78% to MDL 596.39 million.
8 April 2021Teodor UNGUREANU is the new General Manager of MOLDCARGO
Teodor UNGUREANU is the new General Manager of the insurance company MOLDCARGO, according to an announcement published by the National Financial Market Commission (CNPF).
5 April 2021MOLDOVA: turnover of new shares issued by MOLDASIG suspended
The turnover of 480 thousand ordinary shares issued by MOLDASIG SA was suspended by the National Commission for the Financial Market (CNPF), due to the pending verification of the circumstances related to the notifications of the bailiff Maksim Romaliyskiy dated 12.03.2021, sent by the Unified Central Securities Depository (UCSD), CapitalMarket reports.
30 March 2021MOLDOVA: Changes to the indemnity limits for MTPL and Green Card insurance
Drivers from the Republic of Moldova will be able to receive higher compensation in case of a minor accident, as the National Financial Market Commission (NCFM) changes the maximum compensation limit for MTPL policy holders from RON 10,000 to RON 15,000.
11 March 2021MOLDOVA: online tools to check calculation of premiums for MTPL and Green Card policies launched
At the end of February, the National Commission for the Financial Market (CNPF) announced the launch of online tools for checking calculation of insurance premiums for MTPL and Green Card policies using the bonus-malus system, CapitalMarket reported with reference to the press service of the CNPF.
2 March 2021European provider of IT solutions Cegeka opens its office in Moldova
The European IT solution provider Cegeka opens a new office in Moldova, intending to increase the number of employees located in Chisinau from the currently five, to 200 in the coming years, thus being able to service, among others, the banking and insurance industries in the country.
15 February 2021MOLDOVA: ASTERRA GRUP's evolution remains stable and sound, despite the momentary lack of compliance with the latest regulations on assets investment structure
At the end of September 2020, Moldovan insurer's ASTERRA GRUP total assets reached MDL 270.78 million (~ EUR 10.1 million). Technical reserves amounted to MLD 166.46 million (~EUR 8 million), while the solvency rate stood at 113% and liquidity coefficient was of 6.82, the company stated for xprimm.md.
14 January 2021MOLDOVA: the draft law on insurance and reinsurance activities passed its first reading in parliament
The draft law on insurance and reinsurance activities, which was approved by the Government in October this year and was developed by specialists of the National Commission for the Financial Market (CNPF) alongside experts from the World Bank, was adopted in the first reading in December during a regular parliamentary meeting, CapitalMarket reports.
15 December 2020STATISTICS: MOLDOVA, 3Q2020: Market dropped 13% y-o-y, but TOP-3 ended the third quarter in the growth zone
At the end of 3Q2020, the insurance market in Moldova amounted to MDL 1.06 billion (EUR 53.57 million*), which is 12.80% less y-o-y in local currency. Paid claims also decreased by almost 12%, to MDL 438 million, as the data, published by the National Commission of Financial Market shows.
26 November 2020MOLDOVA: ACORD GRUP SA celebrates 18 years of work on the insurance market
ACORD GRUP SA celebrates 18 years of work in the market. ACORD GRUP is one of the first and most successful companies in the insurance market in Moldova and has achieved this by improving the quality of services and constantly adapting to the challenges of the market, writes CapitalMarket.
19 November 2020MOLDOVA: Draft law on insurance and reinsurance activities was approved
On October 28, the Government of Moldova approved a draft law on insurance and reinsurance activities, developed by specialists of the National Commission for the Financial Market (CNPF) together with experts from the World Bank. The draft law will be submitted to Parliament for consideration and further approval.
5 November 2020MOLDOVA: The National Bureau of Motor Insurers (BNAA) is a full member of the Green Card system
National Bureau of Motor Insurers (BNAA) of the Republic of Moldova received the status of a full member in the Green Card system. Also, based on this decision, Alina OSOIANU, CEO of BNAA, was appointed as co-Chair of the Committee on internal settlement of the Bureau Council in Brussels.
8 October 2020
