STATISTICS: MOLDOVA, 1H2018: the market's growth in euro is two times higher than in local currency

In 1H the Moldovan market generated MDL 705.71 million of GWP (EUR 36.14 million), 6.39% more y-o-y, at that the market's growth in euro was twice as higher (12.82%), according to the official data published by the National Commission of the Financial Market in Moldova (CNPF).

Paid claims growth rate left premiums far behind and, if compared to the first half year of 2017, amounted to 20.42%. Non-life sector, dominating in the market (93.63% of total GWP), increased by 6.08%, while its paid claims jumped almost by 24%. As usually the biggest part of the sector's paid claims was made by motor insurance classes. However, in terms of GWP growth the drivers of non-life sector were health insurance (+33.40%) and property insurance (+30.58%). Some of the sector's classes produced premiums less than a year ago. Thus, premiums decreased in accidents insurance and financial loss insurance, while MTPL premiums remained almost unchanged (very slight decrease by 0.2%).

Life sector has a rather small market share in GWP (6.37%), but it demonstrates much more dynamic premiums' growth (+11.15%) and paid claims decreased almost by half if compared to the same period a year ago.

In terms of GWP after the first 6 months of the year the market leader is GRAWE CARAT ASIGURARI with its market share of 14.25%, followed by DONARIS VIG, however, premiums of this insurer dropped by 7.74% and paid claims went up significantly. GWP declining trend was recorded also by the third market leader - MOLDASIG, but this company's paid claims compared to the same period of 2017 decreased too, by 15.30%. GENERAL ASIGURARI, which in the first quarter managed to take the 4th place in the marker premiums, keeps growing. For the first half year the insurer generated premiums by almost 65% more than a year ago, however, at that the insurer's rapid growth affected its paid claims situation as well. Life sector's leader remains unchanged - GRAWE CARAT ASIGURARI, its premiums after 6 months this year jumped by 14.39%.

Access http://xprimm.com/ and download 1H2018 Moldovan insurance market statistics.

  • Market indicators (in EUR and MDL): GWP / Claims / Growth rates / Portfolio;
  • Life & non-life market rankings (in EUR and MDL): GWP / Claims / Rates / Shares.
Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.



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

Share |

Related articles

STATISTICS: MOLDOVA, FY 2017: GWP increased by 6.9%

In 2017 Moldovan insurance market produced GWP in the amount of EUR 70.6 million (MDL 1.5 billion), 6.9% up y-o-y, according to the final data of the Supervisory Authority (CNPF), centralized by the specialized portal www.xprimm.md.

Claims paid by the companies decreased by 2.15% y-o-y and reached EUR 24.9 million (MDL 507.97 million).

2018-03-29

Main conclusions: The Insurance Conference - Republic of Moldova

One of the most important annual events dedicated to the regional insurance market, The Insurance Conference - Republic of Moldova, took place on 10 October in Chisinau, gathering over 120 professionals from Moldova, Romania, Russia, Ukraine, Holland, Germany, The Czech Republic, Poland, Croatia and Latvia.

2017-10-12

ON THE MOVE

AIG Life Limited (UK) announces the appointment of a new CEO

AIG Life Limited (UK) announced the appointment of Philip WILLCOCK - the former CEO of AVIVA's Indonesian and Italian ventures - as CEO, subject to regulatory approval, effective March 1, 2019. He will be based in London and will report to Adam WINSLOW, CEO, International, Life & Retirement.

13.12.2018

Sylva de FLUITER takes over as head of UNIQA Re AG

Sylva de FLUITER will take over as head of UNIQA Re AG in Zurich as of 1 January 2019, the Austrian group announced. Until year end she will work hand in hand with long-time Managing Director Hans Uwe MULLER, who will retire after 14 years at UNIQA Re.

12.12.2018

MERCER to name Bala VISWANATHAN Chief Operating Officer

MERCER, the consulting subsidiary of MMC - Marsh & McLennan Companies, announced that Bala VISWANATHAN, CEO of Jardine Lloyd Thompson Group plc (JLT) UK & Ireland Employee Benefits, will join MERCER as Chief Operating Officer.

12.12.2018

TOP EVENT

Reducing the risks in agriculture by using insurance means, discussed in Skopje

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.

06.11.2018

IIF 2018 - Insurance in a DIGITAL WORLD

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.

05.11.2018

See all