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Republic of Moldova


MOLDOVA: ACORD GRUP SA celebrates 18 years of work on the insurance market

ACORD GRUP SA celebrates 18 years of work in the market. ACORD GRUP is one of the first and most successful companies in the insurance market in Moldova and has achieved this by improving the quality of services and constantly adapting to the challenges of the market, writes CapitalMarket.

During this period, the company paid over MDL 500 million (~EUR 24.7 million*) of claims and received more than MDL 900 million (~EUR 44.4 million*) in premiums, according to the general director of ACORD GRUP, Stela SUBOTIN. Now, the company offers more than 20 types of insurance in 67 branches across the country, is leading in aviation insurance and has a balanced and diversified portfolio. The solvency level of ACORD GRUP is 239.62%.

According to Stela SUBOTIN, the company has a number of new products, including comprehensive insurance for air passengers (including baggage insurance, accident insurance, insurance against flight delays or cancellations), and comprehensive home insurance (including residential property insurance, property insurance in premises, family accident insurance, third party liability insurance), and comprehensive car insurance (including car insurance and insurance of a driver and passengers against accidents).

The general director of the company noted that during the Covid-19 pandemic, ACORD GRUP ensured continuous work, effective interaction with clients and partners and was one of the first to adapt health insurance for traveling abroad to the needs of clients with coverage of medical expenses in the event of coronavirus disease, while maintaining coverage of expenses for other illnesses or accidents that may occur while traveling abroad.

At the end of the first half of 2020, ACORD GRUP ranked 6th in the Moldovan market in terms of GWP collected, having increased its market share to 7.64%.

* at the following exchange rate:
1 EUR = 20.2480 MDL (as of 17.11.2020)

Author: Marina MAGNAVAL on 19.11.2020

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