The insurance market of Moldova ended 2022 with an increase of 28.28%, reaching MDL 2.47 billion (EUR 121.26 million), according to data published by the National Financial Market Commission. Paid claims amounted to MDL 905.68 million (EUR 44.44 million), which is 36.78% more y-o-y.

The market driver is non-life insurance, which occupies about 96% of the market portfolio. This segment grew by 29%. It is worth noting that almost all non-life classes saw a positive trend. Motor insurance, being the key market element (almost 66%), went up by 26%, and growth was recorded by all subclasses: Green Card, MTPL and Motor Hull. A decrease in volumes was observed in health insurance and insurance of goods in transit.

Total market paid claims recorded a significant increase, especially property insurance, where they grew by 178%.

Of the 10 insurance companies operating on the market at the end of December 2022, MOLDASIG ranked first in terms of collected GWP (MDL 396.04 million). Next comes ASTERRA GRUP with a small margin (MDL 371.05 million), followed by GRAWE CARAT ASIGURARI.

Access xprimm.com and download the latest data of the Moldovan insurance market statistics for FY2022 in MDL and EUR.