STATISTICS: MOLDOVA, 3Q2019: market share of the key market segment - motor insurance dropped by almost 7% y-o-y

21 November 2019 — Marina MAGNAVAL
The Moldovan insurance sector ended the 3rd quarter of 2019 with GWP in the amount of MDL 1218.15 million (EUR 62.80 million), which in local currency is 11.53% more y-o-y, as the data, published by the National Commission of Financial Market show.

It's noteworthy that in euro the market growth looks more impressive (+13.64%) thanks to the more favorable exchange rate of the local currency against euro than a year before.

Non-life insurance was quite dynamic. At the same time however the key segment, motor insurance, remained almost unchanged, its share in the market portfolio decreasing from 70.13% in 3Q2018 to 63.42% mainly due the decrease of Green Card policies (-11.61%). Life insurance grew rather slightly and its share on the market saw a decrease y-o-y as well.

Insurers' paid claims grew by almost 19% in volume, in local currency. In some segments though, paid claims went down, for example in life insurance (-38.75%), accidents insurance (-44.22%), property insurance (-29.10%) or GTPL.

The market is still represented by 14 active insurers. GRAWE CARAT ASIGURARI remains the leader in terms of GWP (amounting about MDL 180.11 million / EUR 9.29 million), while DONARIS VIENNA INSURANCE GROUP and MOLDASIG rank 2nd and 3rd respectively.

Access and download 3Q2019 Moldovan insurance market statistics.

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