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.

The largest share in the market portfolio is occupied by motor insurance - it generated almost 75% of all premiums. It is also worth noting an increase in the share of property insurance to approximately 11%. The remarkable fact is that the highest growth rates were observed in property insurance.

The market paid claims segment-wise decreased in life insurance by 17% and in property insurance by almost 20%. As in the case of premiums, the lion's share of paid claims (MDL 223.69 million) falls on motor insurance.

In January-March 2024, insurers' income and expenses increased by 8.0% and 7.9%, respectively, y-o-y. Profit before tax increased by 8.7%, the National Bureau of Statistics said in its report.

Access xprimm.com and download the latest Moldovan insurance market statistics for 1Q2024 in MDL and EUR.