STATISTICS: MOLDOVA, 3Q2021: the share of non-life insurance exceeded 95% of GWP
In the third quarter of 2021, the Moldovan insurance market ended with y-o-y growth of more than 35% (MDL 1.43 billion/EUR 69.83 million) in local currency. At the same time, the growth in paid claims was very moderate - at the level of 6.53% (MDL 467.10 million), according to the data published by the National Financial Market Commission.
It should be noted that the market's focus on non-life insurance is increasing - its share exceeded 95%, while life insurance dropped to 4.75% in the market GWP portfolio.
The biggest GWP portion (MDL 943.83 million) is generated in motor insurance, where MTPL increased by almost 27% y-o-y as well as Motor Hull, and the increase under Green Card policies exceeded 54%. Of the key non-life segments the most impressive growth was recorded by health insurance - more than 83% compared to the same period in 2020.
Total market paid claims increased by only 6.53%, at the same time, some non-life classes recorded a decrease y-o-y, such as insurance of damages to property, Green Card, financial loss insurance, etc.
Out of 10 active insurers, the overall market ranking is topped by ASTERRA GRUP with a share of almost 18%. GRAWE CARAT ASIGURARI moved down to the second place, while GENERAL ASIGURARI keeps its third position.
Access xprimm.com and download the latest data of the Moldovan insurance market statistics.
Author: Marina MAGNAVAL
on 17.11.2021
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