STATISTICS: MOLDOVA, 3Q2018: motor insurance keeps more than 70% of the market
According to data published by the National Commission of the Financial Market in Moldova (CNPF), the highest growth rate in MDL was recorded by property insurance (almost 28%), followed by health insurance with almost 17%. About 94% of total GWP were generated by non-life sector, while life insurance takes only 6.15% of the market (its share increased slightly y-o-y).
The biggest contribution to the market premiums was made by motor classes (MDL 765.93 million) - these classes account together for over 70% of the local market. At that MTPL, Motor Hull and Green Card keep from 20% to 25% each in the segment.
Paid claims jumped by 19.31% y-o-y and amounted to MDL 417.27 million. The biggest portion of the claims was paid in the leading segment - motor insurance (MDL 334.73 million). The most significant growth of paid claims was demonstrated by property insurance (~75%), but at the same time paid claims in life insurance had an opposite trend - decline by 25.24%.
From 17 companies, working in the market, 6 insurers have market shares over 10%. As of the end of the third quarter GRAWE CARAT ASIGURARI keeps the leading positions, its GWP increased by 4.44% y-o-y, 2nd and 3rd places were taken by DONARIS VIG and MOLDASIG accordingly. Among TOP-5 the most impressive growth as of the end of September was recorded by GENERAL ASIGURARI (+36.43%).
Access http://xprimm.com/ and download 3Q2018 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.