STATISTICS: MOLDOVA, 1Q2017: Local insurers' business grew by 10.22% in the beginning of 2017
In 1Q2017, the total GWP collected by Moldavian insurance companies have reached to MDL 310.33 million, up by 9.12% y-o-y, according to the official data published by the market watchdog.
In the European currency, the evolution was 19.99% to EUR 14.83 million, due to the appreciation of the national currency against the European one by almost 4%.
At the same time, the value of the claims paid by the Moldovian insurers increased by 6.0% to MDL 121.43 million, compared to January-March 2016, data published by the National Commission of the Financial Market in Moldova (CNPF) show.
Analyzing the results of the first quarter, there are changes in the ranking of the companies, as well as in terms of the market share. DONARIS VIG maintains its first position, as in the first quarter of 2016, but its market share fell from 18.03% to 16.95%; MOLDASIG ranked second, with a market share of 15.05%. GRAWE CARAT Asigurari is increasing its market share to 14.36%, while ASTERRA GRUP and KLASSIKA ASIGURARI are on the rise in the ranking and the market share. Thus, ASTERRA GRUP ranked on the fourth place with 10.01% market share and KLASSIKA ASIGURARI on fifth position with 9.20% market share.
ALLIANCE INSURANCE GROUP dropped significantly in the ranking, on the eighth position, compared to the 4th place in the previous year, with a decrease in GWP of over 40%.
At the same time, GENERAL Asigurari, a company that started its activity at the end of the previous year, ranked on the 10th position, with GWP - MDL 12.56 million.
On the Moldovian insurance market there are 14 insurance companies
The top five insurers generated about 61.10% of the total GWP (note: ASITO is in the special administration procedure at CNPF and SIGUR-ASIGUR has submitted its recent license).
Access www.xprimm.com and download the 1Q2017 Moldavian insurance market statistics.
Author: Olesea ADONEV
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