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.
- Moldova 3Q2019 Market portfolio and rankings (in EUR and MDL):
- Paid claims
- Growth rates
- Market shares