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.

Share |

Related articles

STATISTICS: MOLDOVA, FY 2017: GWP increased by 6.9%

In 2017 Moldovan insurance market produced GWP in the amount of EUR 70.6 million (MDL 1.5 billion), 6.9% up y-o-y, according to the final data of the Supervisory Authority (CNPF), centralized by the specialized portal www.xprimm.md.

Claims paid by the companies decreased by 2.15% y-o-y and reached EUR 24.9 million (MDL 507.97 million).


Main conclusions: The Insurance Conference - Republic of Moldova

One of the most important annual events dedicated to the regional insurance market, The Insurance Conference - Republic of Moldova, took place on 10 October in Chisinau, gathering over 120 professionals from Moldova, Romania, Russia, Ukraine, Holland, Germany, The Czech Republic, Poland, Croatia and Latvia.



Supervisory Board Chair NN Group steps down

NN Group announces that Jan HOLSBOER, chair of the Supervisory Board of NN Group, has decided to step down as of the close of the annual general meeting (AGM) on 29 May 2019. The Supervisory Board has elected David COLE as Jan HOLSBOER's successor.


Peter CLARKE named VP & COO of FAIRFAX

FAIRFAX Financial Holdings Limited announced that Peter CLARKE has been appointed Vice President (VP) and Chief Operating Officer (COO) of FAIRFAX, reporting to FAIRFAX President, Paul RIVETT.



Inclusive Insurance - just a week to the second edition of IIF - CEE & SEE Regional Actuarial Insurance Conference in Skopje

Insurance should be accessible to all social classes, regardless of their wealth & income status. Products offered today are conventional insurance products, largely inspired from the developed markets as "one-size-fits-all" solutions, affordable to only middle- and high-income clients in the Eastern Europe's emerging & developing markets. Inclusive insurance's goal is making insurance available to all, with responsible insurance offers, thus making up for a solution to narrow the insurance coverage gap in the region.


Latest trends and challenges in the property and motor insurance lines under scrutiny, in Vienna

Property and motor insurance lines are providing for about 75% of the non-life insurance business in the CEE region, but are responsible for over 77% of the claims expenses. As such, although other classes of risks are emerging, for the time being and most probably for a rather long period ahead, property and motor insurance lines will continue to be at the heart of CEE's insurance market architecture.


FIAR 2019: Register before 28 February and save EUR 400 of the attendance fee

To the satisfaction of its traditional guests, FIAR returns in 2019 to its historical hometown, Sinaia. The forthcoming edition will benefit from the comfort and professional facilities of a new venue, the Conference Center of the International Hotel ****, located in the heart of the beautiful mountain resort. Registration is opened at a significantly discounted early bird rate until 28 February.


See all