In the first half of 2023, the Moldovan insurance sector grew by 18.29%, reaching MDL 1.39 billion (EUR 70.03 million), according to data published by the National Bureau of Statistics of the Republic of Moldova.

Life insurance in the first six months decreased by 3.60%, while non-life insurance, which occupies almost 97% of the market portfolio, increased by 19% y-o-y. The most rapid growth is demonstrated by motor insurance classes - this segment generates over half of all gross premiums (67.61%, MTPL and Motor Hull summed).

Paid claims of local insurers amounted to MDL 420.42 million (EUR 24.13 million), which is about 15% more y-o-y. It is noteworthy that, unlike premiums, paid claims in life insurance rose almost 12% in 1H2023.

In January-June 2023, income and expenses of insurers in Moldova increased by 27.4% and 25.9%, respectively, from the level in 1H2022. Profit before tax increased by 44.5%.

Access xprimm.com and download the latest statistics of the Moldovan insurance market for 1H2023 in MDL and EUR.