Insurance companies’ profit in the first quarter of 2021 amounted to about 25 million lei.
The National Commission for Financial Markets (NCFM) informed that, the profit of licensed insurance companies of Moldova (before tax) in January-March 2021 amounted to 24.86 million lei, which is 28.2% less compared to the same period in 2020 ( 34.64 million lei). At the same time, 4 out of 11 insurance companies ended the first quarter of this year with losses, the rest made a profit. The largest profit was received by the following companies: Grawe Carat Asigurari - 11.88 million lei (-11.2% compared to the same period in 2020) and General Asigurari - 10.15 million lei (against losses of about 0.8 million lei a year earlier). At the end of March 2021, the total assets of Moldovan insurance companies amounted to 3 billion 219 million lei (+ 7.7% compared to March last year). The disposable solvency margin in general insurance ranged from 1.38% to 447.19% and in life insurance - 633.66%, and the liquidity ratio - from 0.18% to 85.89% in general insurance and 65.9 % - in the segment of life insurance. In January-March 2021, insurance companies collected premiums totaling 389.65 million lei (+ 14.8%) and paid compensations of 158.02 million lei (-14.4%). General data on the insurance market includes information on the activities of 11 licensed insurance companies. At the same time, the NCFM also provided data on the activities of 4 companies that were previously left without a license: Alliance Insurance Group, Asito Direct, Galas and Sigur-Asigur. In the first quarter of 2021, Sigur-Asigur alone signed new premiums of 195 thousand lei. With the exception of Alliance Insurance Group, all insurance companies that remained without licenses paid indemnities in January-March; their total amount was almost 1.4 million lei. The profit of these 4 insurance companies before tax amounted to 15.7 million lei. // 04.06.2021 - InfoMarket
