The state has officially become a shareholder of Moldasig. The Public Property Agency (APP) acquired 480,000 shares of the company in a single transaction for MDL 137,520,000 (equivalent to USD 7,982,400), bizlaw.md reports.

The shares will then be put up for sale on the regulated market of the Moldovan Stock Exchange through public auctions as a single package. The starting price will include both the acquisition cost and all expenses incurred by the agency.

The government previously approved a preliminary agreement with a potential buyer, Vienna Insurance Group AG. It already has preliminary approval from the National Bank of Moldova (NBM) to acquire a controlling stake. However, other investors who have received the NBM's approval will be able to participate in the auction on equal terms.

It is noted that Moldasig has a market share of 15.4%, about 600 employees and a portfolio of over 170,000 clients. In 2023, the company was among the leaders on the insurance market of Moldova in terms of GWP.

The proposal to sell 80% of Moldasig shares was first made in 2017. So far, all five attempts to sell have been unsuccessful. If the shares are not sold by June of this year, the company will be forced to buy them out at its own expense, which could lead to a decrease in capital and loss of the license, the source added.