CHISINAU (Moldova), May 25 (SeeNews) – The gross written premiums (GWP) of Moldovan insurers edged down by an annual 1.1% to 339.5 million lei ($19.2 million/17.6 million euro) in the first quarter of 2020, the country's statistical office, BNS, said on Monday.
The compensation and insurance payments amounted to 187.2 million lei during January-March, down 9.5% compared to the same period of last year, BNS said in a press release.
During the first quarter of this year, Moldovan insurers posted a 22.8 million lei pre-tax profit, down by 28.5% compared to the first quarter of 2019. Revenues fell by an annual 10.4% to 579.3 million lei during January-March, while expenses decreased by 9.5% to 556.5 million lei.
Premiums from MTPL insurance rose by 5.5% on the year to 160.6 million lei at end-March, while casco premiums edged down 0.2% to 72.5 million lei. Other property insurance premiums fell by an annual 23.1% to 33.7 million lei in the first quarter of 2020.
Premiums from life insurance on the Moldovan market rose by 7.3% year-on-year to 25.9 million lei during January-March.
The gross written premiums of Moldovan insurers increased by 7.1% to 1.625 billion lei last year.
(1 euro=19.289 lei)