Moldova's brokerage market reached EUR 8.4 million

9 September 2011 — Vlad BOLDIJAR
chisinau1EUR 8.4 million (MDL 139.5 million) totaled the brokerage market in Moldova after the first six months of 2011, according to financial data released by the National Commission of Financial Market. Compared with the previous year, when Moldavian brokers registered business of EUR 5.3 million (MDL 89.5 million), the value of mediated premiums increased by over 57%. Also, during January-June this year, brokers have mediated about 30% of gross premiums written by insurers, a degree of mediation by about 10 percentage points higher than in the same period of last year.

Also, in the first half of the year, 62 brokerage companies have conducted businesses, concluding a total of 107,668 insurance contracts (editor's note: in comparison, a year ago, 43 insurance brokers had sold 100,352 policies). More than half of the insurance contracts were sold by four insurance brokerage companies: PRODEVIZ (30,402), GENERAL Broker (10,095), NOVA Broker (8,256) and PRIME Broker (5,931).

In terms of revenues from the brokerage activity, the indicator stood in the analyzed period at EUR 2.66 million (MDL 44.18 million), of which about one third (32.3%) was made by three profile companies: EUROLIFE Broker (MDL 7.4 million), PRODEVIZ (MDL 3.56 million) and GENERAL Broker (MDL 3.3 million).

On insurance classes, general insurance generated 93.2% of total mediated premiums (about MDL 130 million), while life insurance corresponded to 6.8% of the total portfolio (MDL 9.5 million). Property insurance generated 10.7% of the total Moldavian brokers' business, while motor insurance has held the "leadership" of the companies portfolio, generating more than 68% of the total, as follows: 32.1% - Motor Hull, 21.3% - Green Card, 14.8% - mandatory MTPL.

Top of the brokerage companies in Moldova, made by the criterion of mediated premiums volume, indicates on the first position the company INTELMOD ASIG (11.7% market share), followed by PRODEVIZ (9.4%) and GENERAL Broker (7.4%).

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