The insurance market of Moldova ended 1Q2023 with a 44.10% annual GWP increase, reaching MDL 664.24 million (EUR 33.17 million), according to data published by the National Financial Market Commission. Paid claims of the local insurers increased by 26.90% to MDL 234.77 million (EUR 11.72 million).

Starting July 1^st, 2023, the NBM - The National Bank of Moldova will take over from NCFM - The National Commission of Financial market the control of non-banking financial markets, including the insurance segment, local media wrote.

A new mandate for Dinu GHERASIM as President of the Board of Directors and General Manager at DONARIS VIG, the local subsidiary of the Vienna Insurance Group, was approved by the National Financial Market Commission (CNPF) of Republic of Moldova, on June 6.

Motor insurers operating in the Republic of Moldova reported an increase of 24.3% in the MTPL insurance GWP , while for the Green Card segment premiums went up by 52.7% y-o-y, according to data provided by CNPF - the market authority.

The Board of Directors of the National Commission of the Financial Market (CNPF) during the extraordinary meeting of March 9, 2023, approved the decision regarding withdrawal of the license of the insurance company GARANTIE SA (non-life) and submission to the insolvency court of the introductory request regarding filing of the insolvency procedure, moldstreet.com wrote.

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.

Moldovan insurance companies have suspended the process of concluding agroinsurance contracts with farmers due to the fact that they did not receive full subsidies under last year's contracts, east-fruit.com wrote.

According to preliminary data from Moldovan insurance companies, in 2022 total GWP under agricultural risk insurance contracts exceeded MDL 80 million (over USD 4 million), east-fruit.com reports.

Total assets of the insurance companies of the Republic of Moldova for the first 9M2022 exceeded MDL 4.3 billion (~EUR 0.22 billion), which is 20.5% higher y-o-y, md.sputniknews.ru writes.

The insurance market of Moldova at the end of 3Q2022 grew by 26.56% to MDL 1.82 billion (EUR 95.84 million), according to data published by the National Financial Market Commission. Paid claims reached MDL 585.80 million (EUR 30.84 million), which is 25.41% more than in the same period of 2021.

In Moldova, the number of premiums collected by insurance companies under agricultural risk insurance contracts in the first half of 2022 increased by more than 40% compared to the same period last year, east-fruit.com wrote.

In Moldova, the cost of MTPL policies has increased. The decision was taken by the National Commission for Financial Markets (CNPF) on August 9 and entered into force on September 2, from the moment of publication in Monitorul Oficial.

The insurance market in Moldova in 1H2022 rose by 34.62% to MDL 1.182 billion (EUR 58.77 million), according to data published by the National Financial Market Commission. Paid claims reached MDL 391.28 million (EUR 19.45 million), which is 27.57% up compared to the same period of 2021.

In the first quarter of 2022, the insurance sector of Moldova grew by more than 24% y-o-y to MDL 485.23 million (EUR 23.80 million). Paid claims also recorded a fairly strong growth - by 17%, amounting to MDL 185 million (EUR 9.07 million), according to the data published by the National Financial Market Commission.

According to the information of brokers of insurance companies in Moldova, in the spring of 2022, the number and size of insurance contracts concluded by agricultural producers dropped sharply. Among the reasons, there is a decrease in industry profitability throughout the 2021-2022 season, as well as a sharp rise in the cost of all production resources in late 2021 and early 2022, EastFruit reports.

The insurance sector of Moldova ended 2021 with an increase of 31.58% (in local currency) - total GWP reached MDL 1.92 billion (EUR 95.87 million). At the same time, paid claims increased by only 11% to MDL 662 million, according to the data published by the National Financial Market Commission.

National Financial Market Commission (NCFM) has clarified for parties involved in third party liability insurance the latest changes regarding availability of a Green Card policy for vehicles registered in Ukraine, CapitalMarket reports.

In the third quarter of 2021, the Moldovan insurance market ended with y-o-y growth of more than 35% (MDL 1.43 billion/EUR 69.83 million) in local currency. At the same time, the growth in paid claims was very moderate - at the level of 6.53% (MDL 467.10 million), according to the data published by the National Financial Market Commission.

Ecaterina Caraman, head of the Corporate Investment Department within Moldova Agroindbank (MAIB) could be appointed to lead the National Financial Market Commission (NCFM), the autonomous public authority that authorizes, regulates and supervises the activity of participants in the non-banking financial market in the Republic of Moldova.

In 1H2021, the insurance sector of Moldova recorded a GWP increase by more than 29% y-o-y, up to MDL 878.01 million (EUR 41.03 million).