March 25 (SeeNews) - The gross written premiums (GWP) of Moldovan insurers rose by an annual 32.5% to 1.926 billion lei ($105 million/95 million euro) in 2021, the country's statistical office said on Friday.
Compensation and insurance payments amounted to 655 million lei during last year, up 7.9% as compared to the same period of 2020, the statistical office, BNS, said in a press release.
In 2021, Moldovan insurers posted a 171.2 million lei pre-tax profit, up by an annual 56%. Revenues rose by an annual 16.3% to 2.767 billion lei, while expenses were 14.4% higher on the year at 2.596 billion lei in 2021.
Premiums from mandatory car insurance rose by 32.3% on the year to 866.5 million lei at the end of 2021, while casco premiums grew 23.2% to 417.8 million lei. Other property insurance premiums rose 23% on the year to 203.3 million lei in 2021.
Also, premiums from life insurance on the Moldovan market fell 0.5% year-on-year to 101.1 million lei in 2021, according to BNS data.
(1 euro=20.2078 lei)