In January-September 2020, the profit of insurance companies increased by 1.7 times compared to the same period last year.
As InfoMarket agency was informed in the National Commission on Financial Market, the profit of licensed insurance companies of Moldova (before tax) for 9 months 2020 amounted to 92.74 million lei, an increase of 20% compared to the same period in 2019 (55.45 million lei). At the same time, 2 out of 13 licensed insurance companies completed 9 months with losses, the rest made a profit. The largest profit was received by the Grawe Carat Asigurari company - 33.25 million lei. This is followed by: Asterra Grup - 22.25 million lei, Moldasig - 14.63 million lei, General Asigurari - 12.06 million lei, Acord Grup - 10.4 million lei, etc. Moldova-Astrovaz suffered losses - 11.08 million lei and Intact Asigurari Generale - 5.89 million lei. At the end of September 2020, the total assets of Moldovan insurance companies amounted to 3 billion 086.4 million lei (-1.4%), including net assets - 1 billion 101.1 million lei (-8.1%). The authorized capital of all insurance companies at the beginning of October 2020 amounted to 490.39 million lei (-0.7% compared to the situation for the same period in 2019). According to the NCFM, the technical reserves of the insurance market increased by 4.3% compared to the situation in September 2019 - up to 1 billion 701.4 million lei, and the available solvency margin in the general insurance sector increased by 11.5% - to 678.01 million lei, in life insurance - decreased by 10% - to 155.9 million lei. At the end of September 2020, the liquidity ratio (general insurance) varied from 0.09% (Klassika Asigurari) to 21.69% (Grawe Carat Asigurari). In January-September 2020, insurance companies collected premiums for 1 billion 062.1 million lei (-12.8%) and paid indemnities for 438.4 million lei (-11.6%). 223.8 million lei (-14.2%) were allocated for reinsurance. General data on the insurance market includes information on the activities of 13 insurance companies, including Auto-Siguranta, whose license was revoked since August 2020. It should be noted that the NCFM also provided data on the activities of 4 companies, which for various reasons were left without a license: Alliance Insurance Group, Asito Direct, Galas and Sigur-Asigur. For 9 months in 2020, they did not sign new premiums, but paid refunds in the amount of 26.87 million lei, and their profit before tax amounted to 1.1 million lei. // 28.12.2020 — InfoMarket.
