STATISTICS: MOLDOVA, FY2019: GRAWE was the sole life insurer, with 100% market share

19 March 2020 —
STATISTICS: MOLDOVA, FY2019: GRAWE was the sole life insurer, with 100% market share
At the end of 2019, the Moldovan insurance market recorded an increase of 7.02% y-o-y in local currency. Market GWP went up to MDL 1.6 billion (~EUR 84.4 million), while the growth rate of paid claims was more prominent (+19.09%), according to the latest data published by the National Commission of Financial Market (CNPF).

Life sector remained almost unchanged, at the same levels seen in 2018, with a slight decrease of its market share in the total market GWP. The non-life sector on the other hand grew by 7.44% year-on-year, to MDL 1.5 billion (~EUR 79.1 million), bringing its market share close to 84%.

Among the few classes with a decline over the year, it's worth noting damages to property segment which fell by 39% and Green Card business line, its market share dropping by more than 3%.

In 2019, insurers' paid claims reached MDL 653.8 million (~EUR 33.9 million) with the major part falling on the non-life sector. Growth of paid claims was observed in all key market segments, such as property insurance (+13.33%), health insurance (+4.86%) and motor insurance (+5.47%).

The number of active insurers at the end of 2019 did not change, compared to 3Q2019, and amounted to 14 companies. GRAWE CARAT ASIGURARI kept its leadership in terms of GWP (MDL 255.3 million), while MOLDASIG and DONARIS VIG ranked 2nd and 3rd accordingly. GRAWE CARAT ASIGURARI was the unique life insurer operating in Moldova, collecting 100% of the life premiums during the year.

1 EUR = 19.2605 Lei - MDL (December 31st, 2019)
1 EUR = 19.5212 Lei - MDL (December 31st, 2018)

Access and download the latest Moldovan insurance market statistics, in EUR and MDL.