CHISINAU (Moldova), March 24 (SeeNews) – The gross written premiums (GWP) of Moldovan insurers increased by an annual 7.1% to 1.625 billion lei ($92 million/85 million euro) in 2019, the country's statistical office, BNS, said on Tuesday.
The compensation and insurance payments paid in 2019 amounted to 663.5 million lei, up by 26% compared to the previous year, BNS said in a press release.
In 2019, Moldovan insurers posted a loss of 26.4 million lei, compared to a 45.8 million lei profit in 2018. Revenues rose by an annual 11.3% to 2.55 billion lei in 2019 while expenses grew 15% to 2.58 billion lei.
Premiums from MTPL insurance fell by 2.2% on the year to 697.1 million lei in 2019, while casco premiums rose 11.8% to 345.6 million lei. Other property premiums rose by an annual 17.7% to 220 million lei last year.
Premiums from life insurance on the Moldovan market rose by 1.9% year-on-year to 96.8 million lei during 2019.
(1 euro=19.2013 lei)