Negative dynamic for the market profitability
Gross profit in the first half of this year for the players in the
insurance market was MDL 41.5 million (EUR 2.5 million), which
represents, compared to 1H/2010, an evolution in absolute value of about
EUR 1.9 million (editor's note: in 1H/2010, gross profit was MDL 73.2
million, the equivalent of EUR 4.4 million). Also, losses accounted by
insurers amounted to MDL 20.9 million (EUR 1.3 million).
In the first half of this year, a total of 13 insurance companies have registered profit, 4 less than in 1H/2010. In this sense, "champion companies" were MOLDASIG (profit of EUR 1.61 million), MOLDOVA-ASTROVAZ (EUR 0.23 million) and ACORD-GRUP (EUR 0.21 million). Added-up, these three companies had 82% of the entire insurance market profit: EUR 2.05 million.
Also, the greatest losses were registered by the companies DONARIS-GROUP (EUR 0.48 million), GRAWE CARAT ASIGURARI (EUR 0.24 million) and AFES MOLDOVA (EUR 0.12 million).
Last but not least, compared to 1H/2010, in 1H/2011, only one company entered in the black, after, a year before, it had been in the red (MOLDOVA-ASTROVAZ), while on the other side, if in 1H/2010 the companies AUTO-SIGURANTA, GALAS, GRAWE CARAT ASIGURARI and VITORIASIG were registering profit, in 1H/2011 they went in the red.
Overall, the aggregated result of the "profit and loss account" for the insurance market was MDL 20.6 million (EUR 1.2 million), 69% less than in 1H/2010, when the same indicator was MDL 67.5 million (EUR 4 million).
The insurance market in Moldova registered, in the first six months of this year, about EUR 28.07 million (MDL 466.21 million), a nominal increase in European currency of 7.32%, compared to January-June 2010.
The editorial staff of INSURANCE Profile provides for its readers, in Excel format, the centralized figures of the insurance market of Moldova for January-June 2011, submitted by NCFM. You can see how the financial indicators of insurance companies have evolved in 1H/2011 compared to 1H/2010, as well as the hierarchies of profile companies on different insurance classes, by accessing the section Insurance Market, on www.xprimm.md.
Author: Vlad BOLDIJAR
on 24.08.2011
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