Paid claims growth rate left premiums far behind and, if compared to the first half year of 2017, amounted to 20.42%. Non-life sector, dominating in the market (93.63% of total GWP), increased by 6.08%, while its paid claims jumped almost by 24%. As usually the biggest part of the sector's paid claims was made by motor insurance classes. However, in terms of GWP growth the drivers of non-life sector were health insurance (+33.40%) and property insurance (+30.58%). Some of the sector's classes produced premiums less than a year ago. Thus, premiums decreased in accidents insurance and financial loss insurance, while MTPL premiums remained almost unchanged (very slight decrease by 0.2%).
Life sector has a rather small market share in GWP (6.37%), but it demonstrates much more dynamic premiums' growth (+11.15%) and paid claims decreased almost by half if compared to the same period a year ago.
In terms of GWP after the first 6 months of the year the market leader is GRAWE CARAT ASIGURARI with its market share of 14.25%, followed by DONARIS VIG, however, premiums of this insurer dropped by 7.74% and paid claims went up significantly. GWP declining trend was recorded also by the third market leader - MOLDASIG, but this company's paid claims compared to the same period of 2017 decreased too, by 15.30%. GENERAL ASIGURARI, which in the first quarter managed to take the 4th place in the marker premiums, keeps growing. For the first half year the insurer generated premiums by almost 65% more than a year ago, however, at that the insurer's rapid growth affected its paid claims situation as well. Life sector's leader remains unchanged - GRAWE CARAT ASIGURARI, its premiums after 6 months this year jumped by 14.39%.
Access http://xprimm.com/ and download 1H2018 Moldovan insurance market statistics.
- Market indicators (in EUR and MDL): GWP / Claims / Growth rates / Portfolio;
- Life & non-life market rankings (in EUR and MDL): GWP / Claims / Rates / Shares.