CHISINAU (Moldova), March 30 (SeeNews) – The gross written premiums (GWP) of Moldovan insurers fell by an annual 10.6% to 1.453 billion lei ($80.5 million/68.6 million euro) in 2020, the national statistical office, BNS, said on Tuesday.
Compensation and insurance payments amounted to 607 million lei in 2020, down 8.5% on the year, BNS said in a press release.
Last year, Moldovan insurers posted a pre-tax profit of 109.7 million lei, compared to a 26.4 million lei pre-tax loss in 2019. Revenues fell by an annual 6.9% to 2.379 billion lei, while expenses decreased by 12.1% to 2.269 billion lei.
Mandatory car insurance premiums fell by 6.1% to 654.8 million lei at the end of 2020, while casco premiums decreased by 5.8% to 234.1 million lei.
Premiums from MTPL insurance fell by an annual 1.9% to 339 million lei, while other general insurance premiums dropped by 27% to 132.8 million lei.
The premiums for life insurance on the Moldovan market remained flat year-on-year at 96.8 million lei in 2020, while the premiums for health insurance fell by 32.2% to 71.5 million lei.
(1 euro=21.1542 lei)