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Insurance market records 26.6-per cent growth in Moldova since early 2022

18:14 | 09.12.2022 Category: Economic

Chisinau, 9 December /MOLDPRES/ - The insurance companies from Moldova in the first nine months of 2022 insured related risks estimated at more than 1 billion 820.1 million lei (over 91 million euros) – up by 26.5 per cent against the same period of the year before, the National Commission of Financial Market (CNPF) has reported.    

According to CNPF, the highest increases of the insurances were registered in the accident insurances (+85.6%), assets insurance (+58.2%), including the insurance of agricultural crops and animals (46.9%), avia civil liability insurances (49.8%), civil liability insurance for car owners, including internal RCA (+20.7%) and Green Card (52.6%). ‘’The weight of the bonuses insured for the general insurances of about 96 per cent of the overall volume of bonuses remains unchanged and the life insurances have the share of 4 per cent,’’ CNPF said.     

At the same time, in the first nine months of this year, companies paid damages and insurance allowance worth over 585.8 million lei, which is by 25.4 per cent more against the previous year. The assets insurances registered significant increases – two-fold ones, agriculture insurances – three-fold and the Green Card insurances recorded a growth of 58.8 per cent. ‘’The damages paid based on the general insurances policies amounted to 551.5 million lei or 94 per cent of the overall damages paid and the damages paid based on the life insurances policies stood at about 34.3 million lei, - up by 39.1 per cent against the year before,’’ according to the Commission.     

On the concerned period, the overall assets of the insurance companies from Moldova amounted to more than 4.3 billion lei, which is by 20.5 per cent against one year ago. The assets allowed at the covering of the technical reserves and the minimum solvency margin represents 80 per cent (about 3.5 billion lei) out of all assets, being increased by 21.5 per cent against the first nine months of 2021. The profit of the insurance companies (till the taxation) amounted to 195.7 million lei during January-September 2022, up by 58.1 per cent against the same period of 2021,’’ CNPF added.        

On 30 September 2022, ten insurance companies worked on the insurance market of Moldova.   

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