STATISTICS: MOLDOVA, 3Q2018: motor insurance keeps more than 70% of the market

Insurance market of Moldova as of the end of September went up by 2.27% y-o-y. At that, thanks to the favorable exchange rate evolution against euro, the market growth in European currency amounted to 7.36% (GWP of EUR 55.27 million).

According to data published by the National Commission of the Financial Market in Moldova (CNPF), the highest growth rate in MDL was recorded by property insurance (almost 28%), followed by health insurance with almost 17%. About 94% of total GWP were generated by non-life sector, while life insurance takes only 6.15% of the market (its share increased slightly y-o-y).

The biggest contribution to the market premiums was made by motor classes (MDL 765.93 million) - these classes account together for over 70% of the local market. At that MTPL, Motor Hull and Green Card keep from 20% to 25% each in the segment.

Paid claims jumped by 19.31% y-o-y and amounted to MDL 417.27 million. The biggest portion of the claims was paid in the leading segment - motor insurance (MDL 334.73 million). The most significant growth of paid claims was demonstrated by property insurance (~75%), but at the same time paid claims in life insurance had an opposite trend - decline by 25.24%.

From 17 companies, working in the market, 6 insurers have market shares over 10%. As of the end of the third quarter GRAWE CARAT ASIGURARI keeps the leading positions, its GWP increased by 4.44% y-o-y, 2nd and 3rd places were taken by DONARIS VIG and MOLDASIG accordingly. Among TOP-5 the most impressive growth as of the end of September was recorded by GENERAL ASIGURARI (+36.43%).

Access and download 3Q2018 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.

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