STATISTICS: MOLDOVA, 1Q2019: market paid claims rose more than 68% in national currency through slight increase of GWP

6 June 2019 — Marina MAGNAVAL
In 1Q2019, the Moldovan insurance market grew 3.31% y-o-y, to MDL 343.10 million (EUR 17.66 million). Market paid claims increased significantly, by 68.59% to MDL 120.92 million (EUR 10.49 million), according to data published by the National Commission for Financial Markets (CNPF).

The market growth in euro more than doubled compared to growth in the national currency, amounting to 7.89%, thanks to the strengthening of the Moldavian leu against euro, unlike 1Q2018.

The life sector, which accounts for only about 7% of the market portfolio, saw a slight decrease (-0.01%) in local currency, while non-life saw slightly improved GWP of +3.57%, to MDL 319.18 million (EUR 16.43 million), and took 93% of the market.

Property insurance showed the most impressive growth among segments (+32.51%), while the main market segment, motor insurance, had a 2.44% y-o-y reduction in GWP. GWP grew only in Motor Hull (+10.62%), however, the market share of motor insurance fell to 65.45% (from 69.31% a year ago).

Among 14 active insurers, the share of the TOP-5 remained almost unchanged (about 64%). Market shares of the two leaders increased y-o-y, DONARIS VIENNA INSURANCE GROUP generated GWP in the amount of MDL 52.48 million (+13%), its market share went up to 15.30%, and GRAWE CARAT ASIGURARI with GWP worth MDL 51.62 million grew its market share to 15.04%. GWP of the third leader, MOLDASIG, on the other hand, dropped y-o-y by 7.28%.

*MDL 19.4318/EUR - at 31 March 2019

Access and download 1Q2019 Moldovan insurance market statistics.

Share |