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.

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