Moldova

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Location map
author: OCHA/ ReliefWeb


Location:
- Eastern Europe.
- Neighbours: Romania, Ukraine.

Climate:
- moderate winters, warm summers.

Natural hazards:
- landslides.

Macro indicators
* 2018 estimates
Surface:33,846km2
Population*:3.5million
Pop. density*:104.6people/km2
GDP*:9.8EUR billion
GDP/capita*:2,769.6EUR

Currency: Leu
Code: MDL
Since: 1993


Insurance market portfolio
* 2018 estimates
TOTAL LIFE*:7%
TOTAL NON-LIFE*:93%
Overall Property*:8%
Overall Motor*:67%
MTPL (+GC)*:46%

Sources:



 


Statistics

Moldova 1Q2019 Rankings

Moldova 1Q2019 Market Portfolio


See all statistics

Latest news

MOLDOVA: In the first half of 2015, the volume of premiums of the "Green card" insurance has decreased by 6.4%

According to preliminary data of the National Commission for financial market, in January-June 2015 the largest volume of premiums accounted for the company Moldasig - 26,04 million lei, Donaris Grup - 24,62 million lei, Asito - 17,85 million lei, Klassika Asigurari - 17,64 million lei, Victoria Asigurari - 15,52 million lei. The share of these companies accounted for over 80% of the collected premiums on the "Green card" insurance.


STATISTICS: Slight decrease in Q1 GWP volume for MOLDAVIAN insurers

In the first three months of this year, the 15 active Moldavian insurers reported a total GWP volume of about MDL 253.66 million (EUR 12.48 million), down by a half a percentage point as compared with the 1Q2014 figures. About 92% of aggregated GWP voume was generated by the non-life classes, the remaining 8% being accounted by life policies. The value of paid claims by insurers decreased by 31.4% y-o-y to MDL 79.36 million (EUR 3.90 million).


STATISTICS: MOLDAVIAN market down by 10% in 2014 due the currency depreciation

Last year the Moldavian insurance market totaled MDL 1.2 billion or 0.4% more y-o-y, according to the official statistics published by the National Commission of Financial Market - NCFM. Denominated in euro, due to the depreciation of the national currency, the local insurance market was down by 9.9% to EUR 64.6 million. The value of claims paid by insurers was up by 6.6% y-o-y to EUR 27.6 million, of which motor insurance classes (hull, MTPL and Green Card, summed) accounted for more than 58% (or EUR 16 million) while financial loss policies represented 30% (or EUR 8.2 million).


Vehicles registered in MOLDOVA to be insured while entering Transnistria

Moldovan drivers will be required to buy insurance for their cars at the entrance to Transnistria. Each day, some 2,000 cars cross the security zone, separatist authorities will increase the number of inspectors. Thus, Tiraspol is trying to accumulate money in the budget of the region, to overcome the financial crisis. Chisinau say that it is a unilateral measure that will hinder dialogue between the two sides, TV "Moldova 1" reported.

MOLDOVA: The market capitalization exceeded half billion MDL at the end of 2014

In December 2014, two Moldavian insurers increased their capital by more than 100%, according to a press release published by the National Commission of Financial Market (NCFM). The two capital increases led the total market capitalization from over a half million MDL at the end of 2014 to MDL 505.5 million (about EUR 26.6 million).

The MOLDAVIAN insurance brokerage market up 5% y-o-y in 3Q2014

At the end of September, the Moldavian insurance brokerage market totaled MDL 240 million (EUR 13 million), up 5% y-o-y, according to the financial data published by the National Commision of Financial Market. At the same time, the share of brokers in total insurance market increased from 26.3% (in 3Q2013) to 26.7% (in September 2014).

VIG intends bringing to MOLDOVA EU standards

The international Austrian company Vienna Insurance Group (VIG), which in early 2014 has purchased 94% of shares in the Donaris Group insurance company, intends to bring to Moldova the European standards in the sphere of insurance.


MOLDOVA 1H2014: Insurance payments increased by over 40% in the first half year while revenues remained constant

The Moldavian insurance market recorded, in the first half of this year, a total gross written premiums volume of MDL 575.8 million (EUR 31 million), a figure higher by 0.74% compared to 1H2013 (MDL 571.5 million - EUR 35.44 million), according to financial data centralized by the National Commission for Financial Markets (NCFM). At the same time, in European currency, Moldovan insurers registered a decrease of 12.4% due to the depreciation of the national currency by 15%. Also, insurance companies have paid claims totaling MDL 278.9 million (EUR 15 million), almost 42% up y-o-y.

MOLDOVA: VIG seeks to secure full control over DONARIS Group

VIENNA Insurance Group (VIG) announced their intention to take over the remaining 6.214% stake in the Moldavian insurer DONARIS Group, after previous acquisition of around 94% stake of its shares, according to the official publication of the supervisory authority.

MOLDAVIAN insurers 1Q2014 GWP up by 10%

The Moldavian insurance market reported for January-March 2014 - gross written premiums of MDL 255 million, up 10% y-o-y, according to the preliminary figures published by the market authority - National Commission of Financial Market. In European currency - due the devaluation of Moldovan leu against the euro, the insurance market reported a decline of 3.5% y-o-y, to almost EUR 14 million.

MOLDOVA, FY2013: The insurance market increased by 9.89%

The Moldavian insurance market remained on a positive trend last year, with a GWP increase of 9.89% to MDL 1.2 billion (EUR 71.6 million), compared with MDL 1.09 billion (EUR 70 million) in 2012, according to the official figures published by the National Commission for Financial Markets of the Republic of Moldova (NCFM).

VIG has completed the acquisition of the Moldovan insurer DONARIS

VIENNA Insurance Group (VIG) has completed the acquisition of around 94% of Moldovan insurer DONARIS Group. VIG group officials have confirmed for www.xprimm.com the completion of the transaction, but more details in this regard will be communicated at a press conference that will take place in the near future.

MOLDOVA, FY2013: The insurance market increased by 8.5%

The Moldavian insurance market remained on a positive trend last year, with a GWP increase of 8.49% to MDL 1.18 billion (EUR 70.6 million), compared with MDL 1.09 billion (EUR 69.9 million) in 2012, according to the preliminary figures published by the National Commission for Financial Markets of the Republic of Moldova (NCFM).

VIG enters MOLDOVA through the acquisition of DONARIS GROUP

VIENNA Insurance Group (VIG) announced at the end of January that it had signed an agreement to acquire around 94% of the Moldovan insurer DONARIS Group. The acquisition is subject to regulatory approvals. "By entering the Moldovan market, we have expanded the VIG's network to 25 countries and gained access to one of the last blank areas on our map of Central and Eastern Europe. DONARIS provides a good platform for positioning on the insurance market in Moldova," commented Peter HAGEN, CEO of the VIG.

MOLDOVA: Insurer TRANSELIT subjected to financial recovery proceedings

The Financial Supervisory Authority of Moldova (CNPF) has approved the opening of the financial recovery proceedings for TRANSELIT insurance company. The decision was taken due to the conclusions of CNPF's control showing that the company failed to observe the legal provisions with regard to the formation of insurance reserves, the level of solvency margins and the liquidity ratio.

President of the Moldavian National Commission for Financial Markets: Bancassurance will help develop the insurance market

During the National Bancassurance Conference which took place on November 15th at Chisinau, the capital of the Republic of Moldova, over 140 representatives of the supervisors, insurers, banks and insurance brokers talked about the means to develop bancassurance, a channel still in its infancy. "The legal framework necessary for the development of bancassurance already exists. We are going through a time of reforms which aim to bring the market to international standards. Bancassurance, in the Republic of Moldova, is past its beginnings and it will bring benefits to insurers, banks and the final consumer", Artur GHERMAN, President of the Moldavian National Commission for Financial Markets (CNPF) said during the conference.