STATISTICS: Rep. of Moldova, 1H2016: GWP up by more than 9.5%, while claims increased by over 40%

The Moldavian insurance market has recorded in 1H2016, total GWP of MDL 628 million (EUR 28,2 million), increasing by 9,5% as compared with 1H2015, according to the official data published by the National Commission of the Financial Market in Moldova (CNPF). In the European currency, company's GWP have seen a decrease of 0,49%, as a consequence of the national currency depreciation against the European one.

At the same time, the total for paid loss came to a total of MDL 224,6 million (EUR 10,1 million), marking a 43,2% y-o-y increase.

In late June, there were 15 active companies in the Moldavian insurance market, of which only 9 have seen an increase in business (attached table). According to CNPF data, the first 5 insurance companies ranked by the GWP volume are: MOLDASIG, with a market share of 17,88%, followed by DONARIS-GROUP VIG (15,69%), GRAWE CARAT INSURANCE (14%), ALLIANCE Insurance Groups (11,3%) and ASTERRA Group (8,39%). In total, these companies generated a final share of 67,36% of the total market GWP.

Furthermore, amongst the reported increases the most important in the referred period, according to the CNPF data, are GALAS Insurance (+78%), MOLDAGO (+61,3%), ASTERRA Group (+37,7%) and KLASSIKA Insurance (+33,8%).

The non-life insurance sector managed a total of 93,9%, while life insurance came in to a share of 6,05% from the total GWP value.

The market portfolio remains dominated by the motor insurance lines, which sum up to a total of 68,4%, of which MDL 160,4 million come only from the MTPL policies, Green Card policies came to a total of MDL 130,5 million and CASCO policies to a total of MDL 127,3 million.

When it comes to the other insurance segments, property type policies (fire and allied perills) summed up to a total share of 9,5%, followed by life policies, with 6% and health policies with 5,4%.

Access www.xprimm.com and download the 1H2016 Moldavian insurance market statistics.

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).

2018-03-29

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.

2017-10-12

ON THE MOVE

Public insurers appoint Achim Bosch to reinsurer board

The supervisory bodies of Deutsche Ruckversicherung AG and the Association of German Public Insurers decided today, to appoint Achim Bosch (53) to the executive board of the two reinsurers, where he will be responsible for non-life reinsurance.

11.10.2018

TOP EVENT

HOEPKE, Munich Re: I expect at least a stable renewal round in 2019

After severe storm damage in Japan and the United States, Munich Re is looking with a little more optimism to the next renewal season. "I expect at least a stable renewal round in 2019," Board member Doris HOEPKE said in Baden-Baden. Until recently the reinsurer's expectations were leaning towards a stagnant season.

22.10.2018

photodune-3834701-laughing-girl-xs

Five new XPRIMM insurance reports on the Baden Baden stands

Five new titles are available this year on the XPRIMM Baden-Baden press stands opened in the Kurhaus Casino and in Baden Baden main locations, presenting the latest statistical data and comprehensive analysis for the CEE, SEE and CIS insurance markets.

21.10.2018

See all