5.3% growth y-o-y for MOLDAVIAN insurance market

The first nine months of this year marked for Moldavian insurance market, a total volume of gross written premiums of MDL 785.5 MDL (EUR 50.9 million), up 5.3% compared with January-September 2011 - according to preliminary data centralized by the National Commission of Financial Market (NCFM).

At the same time, in the analyzed period, Moldavian insurers have paid claims which amounted to MDL 267.7 million (EUR 17.3 million), while the value of gross written premiums ceded to reinsurance reached MDL 187.8 million - equivalent to 23.9% of total GWP. In terms of profitability, the gross financial result remained approximately at the same level as a year earlier: MDL 47.3 million (EUR 3 million) in 3Q2012 compared with MDL 47.2 million.

Non-life policies have generated 94% (MDL 738.5 million) of the total market, of which the largest share was accounted for by motor insurance types: MTPL (22.2%), Green Card (20.4%) and Motor Hull (17.3%), while property insurance or health insurance accounted only for 13.2% and 4.4% respectively.

At the end of September, the hierarchy of insurance companies was led by MOLDASIG (with a market share of around 29%), followed by ASITO (16.5%), MOLDCARGO (12.4 %), GRAWE CARAT Asigurari (10.7%) and DONARIS-GROUP (7.9%).

According to the results provided by NCFM, Top 5 generated more than 76% of the total insurance market, the remaining 24% belonging to the other 14 active companies.

Access www.xprimm.com and download the 3Q2012 Moldavian insurance market statistics.

Market portfolio (in EUR and MDL):
  • Gross written premiums
  • Paid claims
  • Growth rates
Market rankings in EUR and MDL (GWP/Claims/Market shares/Growth rates):
  • All insurance market
  • Life insurance 
  • Non-life
  • Motor hull
  • MTPL
  • Green Card
  • Property
  • GTPL

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

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