STATISTICS: Moldova: The value of paid claims by insurers decreased by 44% y-o-y

In the first six months of this year, the insurance companies of Republic of Moldova reported a total GWP volume of about MDL 573.17 million, down by half percent compared with the 1H2014 figures. About 93.72% of aggregated GWP volume was generated by the non-life classes, the remaining 6.28% being accounted by life policies.

The value of paid claims by insurers decreased by 44% y-o-y, to MDL 157,77 million.

Denominated in EUR, due to the depreciation of the national currency, the local insurance market was down by 8.53%, to EUR 28.39 million.

In the reporting period, on the Moldavian insurance market were activating 15 insurance companies, of which 10 insurers recorded increases in business. Thus, the most important advances were recorded by KLASSIKA Asigurari (+ 198.13%), VICTORIA Asigurari (+ 117.75%), MOLDOVA-ASTROVAZ (+ 85.54%), TRANSELIT (+ 83.54%) , ACORD GRUP (+ 66.54%) and GRAWE CARAT Asigurari (+ 42.01%).

As in previous reporting periods, the GWP portfolio was dominated by the motor insurance classes (MTPL, Motor Hull and Green Card) which generated together almost 63% of the total.

Access www.xprimm.com and download the 1H2015 Moldavian insurance market statistics.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

STATISTICS: MOLDOVA, FY 2017: GWP increased by 6.9%

In 2017 Moldovan insurance market produced GWP in the amount of EUR 70.6 million (MDL 1.5 billion), 6.9% up y-o-y, according to the final data of the Supervisory Authority (CNPF), centralized by the specialized portal www.xprimm.md.

Claims paid by the companies decreased by 2.15% y-o-y and reached EUR 24.9 million (MDL 507.97 million).

2018-03-29

Main conclusions: The Insurance Conference - Republic of Moldova

One of the most important annual events dedicated to the regional insurance market, The Insurance Conference - Republic of Moldova, took place on 10 October in Chisinau, gathering over 120 professionals from Moldova, Romania, Russia, Ukraine, Holland, Germany, The Czech Republic, Poland, Croatia and Latvia.

2017-10-12

ON THE MOVE

Bulgaria: Boiko ATANASSOV appointed as FSC's head

The Parliament of the Republic of Bulgaria appointed Boiko ATANASSOV as Chairperson of the Financial Supervision Commission (FSC) on March 15, with 134 votes in favour, none opposed or abstained.

21.03.2019

TOP EVENT

Climate and cyber: two Cs with catastrophic potential and the insurance business - under debate in Vienna, on April 9

10 years after its inception, the Romanian mandatory dwelling insurance system has progressed and PAID, the pool underwriting and managing the mandatory policies is a strong and financially sound institution. "We are currently managing a reinsurance program worth EUR 920 million, with a pool of excellent reinsurers, more than half of them rated AA+, while the company's solvency rate is of 220%," recently stated Nicoleta RADU, CEO, PAID.

21.03.2019

Conclusions: TBILISI - the first Georgian International Insurance Conference

The first Georgian International Insurance Conference took place on 14 March 2019. The event put under scrutiny the current status and the future development perspectives of the local market, in an attempt of identifying the main growth opportunities. The forthcoming launch of the mandatory MTPL system was the most important topic on the agenda, as this new line of business has the potential to provide for a significant growth, but also to become a market disruptor.

14.03.2019

See all