Insurance companies' paid claims for the first 9 months of 2024 for 95.8% were non-life (MDL 862.4 million/EUR 44.33 million), while the remaining 4.2% were life insurance indemnities, bizlaw.md writes based on data from the National Bank of Moldova (NBM).

According to NBM, non-life paid claims have tended to increase over the past five years. The ratio of claims to premiums in non-life insurance for the first 9 months of 2024 was 36.7%, which is 5.4 p.p. more y-o-y.

Of the total amount of paid claims on the market, MDL 450.4 million (or about 50%) is compulsory insurance (domestic MTPL, Green Card), which is 28.4% more y-o-y.

Class-wise, MTPL and Motor Hull have the largest weight in the total amount of non-life paid claims, accounting for over 80.3%.

The average amount of MTPL compensation for 9 months of 2024 increased by 6% y-o-y. The average amount of payment under Green Card policies for the same period increased by 12.2%, the source added.

* MDL 19.4506/EUR - 30.09.2024