CHISINAU (Moldova), November 25 (SeeNews) – The gross written premiums (GWP) of Moldovan insurers fell by an annual 12.8% to 1.06 billion lei ($62 million/52 million euro) in the first nine months of 2020, the national statistical office, BNS, said on Wednesday.
The compensation and insurance payments amounted to 465.9 million lei during January-September, down 7.7% compared to the same period of last year, BNS said in a press release.
During the first nine months of 2020, Moldovan insurers posted a pre-tax profit of 100.7 million lei, compared to a 60.5 million lei profit in the same period of 2019. Revenues fell by an annual 11.2% to 1.755 billion lei during January-September, while expenses decreased by 13.6% to 1.655 billion lei.
Mandatory car insurance premiums fell by 7.6% on the year to 494.2 million lei at end-September, while casco premiums decreased by 5.8% to 234.1 million lei. Premiums from MTPL insurance fell by an annual 19.1% to 87.5 million lei in the first nine months of 2020, while other general insurance premiums dropped by 27.1% on the year to 132.8 million lei.
The premiums for life insurance on the Moldovan market rose by 1.3% year-on-year to 70.4 million lei in the first nine months of 2020, while the premiums for health insurance fell by 37.8% to 53.6 million lei.
The gross written premiums of Moldovan insurers increased by 7.1% to 1.625 billion lei last year.
(1 euro=20.4147 lei)