STATISTICS:

STATISTICS: MOLDAVIAN market down by 10% in 2014 due the currency depreciation

Last year the Moldavian insurance market totaled MDL 1.2 billion or 0.4% more y-o-y, according to the official statistics published by the National Commission of Financial Market - NCFM. Denominated in euro, due to the depreciation of the national currency, the local insurance market was down by 9.9% to EUR 64.6 million. The value of claims paid by insurers was up by 6.6% y-o-y to EUR 27.6 million, of which motor insurance classes (hull, MTPL and Green Card, summed) accounted for more than 58% (or EUR 16 million) while financial loss policies represented 30% (or EUR 8.2 million).

As in previous reporting periods, the GWP portfolio was dominated by the motor insurance classes (MTPL, Motor Hull and Green Card) which generated togheter almost 64% of total. At the same time, the two property lines (fire, allied perils and other damages to property insurance) accounted for 12% of total GWP, while the share of life insurance increased to 6.7% (GWP of about EUR 4.3 million) thanks to the positive rates reported by the only two companies active in this market segment: GRAWE CARAT Asigurari and SIGUR-ASIGUR.

At the end of December 2014, on the Moldavian insurance market were active 15 insurance companies. According to NCFM, MOLDASIG was the leading insurer (with 23.4% market share), followed by ASITO (15.5%), GRAWE CARAT Asigurari (11.5%), DONARIS VIG (10.7%) and MOLDCARGO (7.7%). The share of the five mentioned insurers reached 69% of total, while top 10 generated more than 91% of total market.

Access www.xprimm.com and download the FY2014 Moldavian insurance market statistics.

Market portfolio and market rankings (total/life/non-life) in EUR and MDL:
  • Gross written premiums
  • Paid claims
  • Growth rates
  • Market shares

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

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