May 24 (SeeNews) - The gross written premiums (GWP) of Moldovan insurers edged up by an annual 0.7% to 669.1 million lei ($37.8 million/34.9 million euro) in the first three months of 2024, the statistical office said on Friday.
Compensation and insurance payments amounted to 266.7 million lei in the first quarter, increasing by 9.2% on the year, the statistical office, BNS, said in a press release.
In the first quarter, Moldovan insurers reaped a pre-tax profit of 82 million lei, which is 8.7% higher than the value recorded in the prior-year period. Revenues rose by an annual 8% to 1.163 billion lei, while expenses were 7.9% higher at 1.081 billion lei.
Premiums from mandatory car insurance rose by 15.8% on the year to 370.6 million lei as at the end of March, while casco premiums grew by 10% to 128.5 million lei.
Health insurance increased by 10.9% to 29.9 million lei in the first quarter of 2024, while other general insurance premiums plummeted by 65.1% to 42.9 million lei. Life insurance premiums remained flat year-on-year at 25.6 million lei in the first quarter.
In 2023, the GWP of Moldovan insurers rose by 18.8% to 2.936 billion lei.
(1 euro=19.1914 Moldovan lei)