STATISTICS: MOLDOVA, 1Q2018: the local market's growth after 3 months amounted to 7%

In 1Q2018 the Moldovan market generated MDL 332.1 million, which is 7.01% more y-o-y in local currency, according to the official data published by the National Commission of the Financial Market in Moldova (CNPF).

In the European currency, the evolution was 10.32% to EUR 16.37 million, due to the appreciation of the national currency against euro. The market's driver, non-life segment, which has almost 93% of the market portfolio, grew by 6.41%, at the same time life insurance, having only about 7% market share, saw rapid growth of more than 15%.

Total claims almost had no y-o-y change; however, life sector recorded a significant decrease of paid claims (-42.23%). Among non-life classes health and property insurance saw the biggest growth rate of 24.67% and 39.51% accordingly. Non-life class with the biggest share in non-life GWP is motor insurance (69.31%) saw a quite moderate increase of 4.34%, but its biggest sub-class, MTPL, demonstrated an opposite, declining trend and fell by 5.62%.

The leaders of the total market DONARIS VIG and MOLDASIG reduced their market shares, GWP of DONARIS VIG fell by 11.74% and MOLDASIG generated premiums 5.07% less than for the Q1 in 2017. On the other hand, GENERAL ASIGURARI, that a year ago had only 4.34%, jumped y-o-y by 201.39% thus taking the 4th place on the market among 16 insurance companies. In life sector the major part was produced by the almost only insurer GRAWE CARAT ASIGURARI, holding about 98% (vs 94.7% in Q1 2017). Its premiums' growth rate in Q1 2018 amounted to 23.08%.

The TOP-5 insurers generated about 66% (vs 61.10% for Q1 2017). Among 17 registered insurers, only 15 companies were active in terms of GWP. The smallest amounts of GWP were generated by SIGUR-ASIGUR and AUTO-SIGURANTA.

Access http://xprimm.com/ and download Moldovan market figures.

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

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