STATISTICS: MOLDOVA, 1Q2020: In spite of market GWP volumes' general decline, MTPL increased by more than 18%

18 June 2020 — Marina MAGNAVAL
The insurance sector of Moldova ended the first quarter of 2020 with a decline in GWP volumes, both in national currency (-1.11%) and in euro (-4.47%*). GWP amounted to MDL 339.30 million (~EUR 16.87 million*), according to the data published by the National Commission of Financial Market.

Although the market recorded a GWP decline overall, the life segment expanded by more than 7% y-o-y. At the same time however, life paid claims soared by almost 150% y-o-y.

On the non-life side, a slight increase of premiums was observed in motor insurance types, their share in the market portfolio reaching almost 69%. Among those classes, a significant increase of GWP could be noted in MTPL (+18.36%), while its paid claims in national currency remained at the level seen in 1Q2019.

GRAWE CARAT ASIGURARI kept its leading market position, demonstrating growth in premiums, paid claims, and its market share. The highest premium growth rate among the TOP-5 insurance companies was recorded by ASTERRA GRUP (up by almost 57%), while DONARIS VIG was the only one in TOP-5 with a GWP decline y-o-y (-17%). In 1Q2020, the total number of active insurers on the Moldovan insurance market was 13.

* For the following exchange rates:
1 EUR = 20.1152 MDL (31 March 2020)
1 EUR = 19.4318 MDL (31 March 2019)

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