According to the National Bureau of Statistics, the insurance sector of Moldova grew by 11.06% to MDL 1,553.12 million (EUR 80.93 million) in the first half of 2024. At the same time, paid claims increased by 10.61% and amounted to MDL 532.99 million (EUR 27.77 million).

The share of the largest segment - motor insurance in the market portfolio increased to 68.69%. The second largest segment is property insurance (14%). It demonstrated the highest growth rate on the market (+24.30%).

Unlike premiums, which increased in all key insurance segments y-o-y, paid claims had various dynamics - they decreased in property insurance and life insurance, as well as in some other non-life classes. It is worth noting that in paid claims, property insurance recorded the strongest decline on the market (-26.28%).

As the bureau notes in its report, in January-June 2024, insurers' income and expenses increased by 9.0% and 13.6%, respectively, y-o-y. Profit before tax decreased by 31.1%.

Access xprimm.com and download the latest Moldovan insurance market statistics for 1H2024 in MDL and EUR.