May 25 (SeeNews) - The gross written premiums (GWP) of Moldovan insurers rose by an annual 37% to 664.3 million lei ($37.4 million/34.8 million euro) in the first three months of 2023, the country's statistical office said on Thursday.
Compensation and insurance payments amounted to 244.2 million lei in the first quarter of 2023, jumping by 31% on the year, the statistical office, BNS, said in a press release.
Moldovan insurers posted a 75.4 million lei pre-tax profit in January-March, down by 10% from the value recorded in the corresponding period of 2022.
Revenues rose by an annual 60% to 1.077 billion lei. Expenses grew at the same pace, reaching 1.002 billion lei.
Premiums from mandatory car insurance rose by 40% on the year to 320.1 million lei during the first three months of 2023, while casco premiums grew by 23% to 116.8 million lei.
Health insurance premiums increased by an annual 10% to 27 million lei in the first quarter, while other general insurance premiums soared over four and a half times on the year to 123.2 million lei. Life insurance premiums decreased by an annual 6.9% to 25.6 million lei.
In 2022, the GWP of Moldovan insurers rose by an annual 28% to 2.472 billion lei.
(1 euro= 19.0801 Moldovan lei)