Moldova's insurance market grows 20% y/y in Jan-Sept

Compensation and insurance payments amounted to 715.6 million lei in the nine months through September, up by 14% on the year, the statistical office, BNS, said in a press release.

The pre-tax profit booked by Moldovan insurers in January-September jumped by 57% year-on-year to 347.4 million lei.

Revenues rose by an annual 25% to 3.524 billion lei, while expenses grew by 22%, reaching 3.177 billion lei.

Premiums from mandatory car insurance rose by 36.4% on the year to 1.15 billion lei during the first nine months of 2023, while casco premiums grew by 19% to 398 million lei.

Health insurance premiums increased by an annual 7.4% to 108.4 million lei in the first three quarters of the year, while other general insurance premiums decreased by 2.4% to 223.2 million lei. Life insurance premiums inched down by an annual 0.8% to 72 million lei.

In 2022, the GWP of Moldovan insurers rose by 28% to 2.472 billion lei.

(1 euro= 19.4168 Moldovan lei)