Moldova's insurance market grows 7.9% y/y in Jan-Sept

The compensation and insurance payments paid in January-September 2019 amounted to 504.7 million lei, up by 19.9% compared to the same period of 2018, BNS said in a press release.

Premiums from MTPL insurance fell by 4.6% on the year to 524 million lei in the first nine months, while casco premiums rose 12.3% to 248.5 million lei and other property premiums rose 8.9% to 108.2 million lei.

Premiums from life insurance on the Moldovan market rose by 5.7% year-on-year to 69.4 million lei during January-September.

In January-September, insurers' sales rose by 30.3% to 1.97 billion lei, while expenses increased by 29.2% to 1.91 billion lei. Profit before tax increased 1.8 times on the year to 60.5 million lei, BNS added.

In 2018, gross subscribed premiums on Moldovan insurers amounted to 1.52 billion lei, up by an annual 5.3% compared to the previous year.

(1 euro=19.3896 lei)