Moldova

Moldova
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Moldova
Location map
author: OCHA/ ReliefWeb


Location:
- Eastern Europe.
- Neighbours: Romania, Ukraine.

Climate:
- moderate winters, warm summers.

Natural hazards:
- landslides.

Macro indicators
* 2018 estimates
Surface:33,846km2
Population*:3.5million
Pop. density*:104.6people/km2
GDP*:9.8EUR billion
GDP/capita*:2,769.6EUR

Currency: Leu
Code: MDL
Since: 1993


Insurance market portfolio
* 2018 estimates
TOTAL LIFE*:7%
TOTAL NON-LIFE*:93%
Overall Property*:8%
Overall Motor*:67%

Sources:



 


Statistics

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Moldova FY2024 Market Portfolio

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Kyrgystan 3Q2024 Market Ranking


See all statistics

Latest news

STATISTICS: MOLDOVA FY2024: 25% increase in the claims paid, driven by the property and motor insurance lines

According to the National Bureau of Statistics, the insurance sector of Moldova grew by 10.75% to MDL 3,251.61 million (EUR 168.38 million) at the end of 2024. At the same time, paid claims grew by 25.3% and reached MDL 1,283.32 million (EUR 66.46 million).

97% of total GWP is generated in non-life insurance, while the share of life insurance continued to decline and now is only a little above 3%. Motor insurance, as always, remains the leading segment in the market portfolio (70.97%). All insurance classes recorded a positive dynamic in 2024.

As for the paid claims’ dynamics by insurance classes, it is worth noting their decrease by 3.4% in life insurance while all non-life insurance lines recorded a rather significant growth of the claim expenses. Property insurance recorded a more than double value of the paid claims, most probably because of the repeated flooding episodes.

As the Bureau notes in its report, in 2024, insurers' revenues and expenses increased by 15.3% and 18.7% respectively y-o-y. Profit before tax decreased by 19.6% compared to the previous year

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




STATISTICS: MOLDOVA, 3Q2024 results: pre-tax profit down almost 23%

According to the National Bureau of Statistics, the insurance sector of Moldova grew by 10.90% to MDL 2,421.91 million (EUR 124.52 million) at the end of 3Q2024. At the same time, paid claims grew by 26.02% and reached MDL 901.87 million (EUR 46.37 million).


MOLDOVA: Green Card policies to be issued in digital format

The government has approved a draft decision that will allow digitalization of issuing Green Card policies. According to the Ministry of Finance, from November 1, 2024, the primary form of the document in paper format will be canceled and the possibility of its issuance in electronic form will be ensured, bizlaw.md writes.



STATISTICS: MOLDOVA, 1Q2024: motor insurance generates almost 75% of all market premiums

According to the National Bureau of Statistics, the insurance sector of Moldova in 1Q2024 rose by only 0.7%, amounting to MDL 669.08 million, while paid claims increased by 9.2%, to MDL 266.70 million (EUR 14.02 million). At the same time, due to more favorable exchange rates, GWP growth was more noticeable in euros – by 6%, to EUR 35.16 million.



MOLDOVA: Transtest may acquire 80% of Moldasig

The Competition Council in Moldova declared the economic concentration operation between Transtest and Moldasig compatible with the competitive environment. Thus, the company that owns the Banzai brand can acquire 80% of Moldasig, one of the insurance market leaders, bizlaw.md reports.

STATISTICS: MOLDOVA, FY2023: the market approached MDL 3 billion

The insurance sector of Moldova ended 2023 with double-digit growth (+18.80%), total GWP reached MDL 2.93 billion (EUR 151.67 million), according to data published by the National Bureau of Statistics of the Republic of Moldova. At the same time, market growth in euros was more impressive – almost 26%.