March 25 (SeeNews) - The gross written premiums (GWP) of Moldovan insurers rose by an annual 18.8% to 2.936 billion lei ($165.6 million/153.1 million euro) in 2023, the statistical office said on Monday.
Compensation and insurance payments amounted to 1.024 billion lei in 2023, increasing by 6.8% on the year, the statistical office, BNS, said in a press release.
Moldovan insurers reaped a pre-tax profit, which is 2.8 times higher than the value recorded in 2022.
Revenues rose by an annual 20.7% to 4.915 billion lei, while expenses were 14.4% higher on the year, at 4.480 billion lei.
Premiums from mandatory car insurance rose by 33.6% on the year to 1.538 billion lei at the end of 2023, while casco premiums grew by 17.6% to 556.5 million lei.
Health insurance increased by 10.2% to 136.5 million lei in 2023, while other general insurance premiums dropped by 4.9% to 291.7 million lei. Life insurance premiums inched up by an annual 0.4% to 107.6 million lei.
In 2022, the GWP of Moldovan insurers rose by 28% to 2.472 billion lei.
(1 euro= 19.1786 Moldovan lei)