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In Moldova, the profit of insurance companies before tax in the first quarter of 2023 amounted to 75.4 million lei, decreasing by 10% compared to the same period in 2022.

In Moldova, the profit of insurance companies before tax in the first quarter of 2023 amounted to 75.4 million lei, decreasing by 10% compared to the same period in 2022.

Such data were provided by the National Bureau of Statistics, saying that, while the total income of insurers in January-March 2023 amounted to 1 billion 077.3 million lei, exceeding by 59.8% the same period of the previous year, and their expenses increased over year by 69.7% - up to 1 billion 001.9 million lei. According to the NBS, in the first quarter of 2023, the gross premiums accrued by insurance companies amounted to 664.3 million lei, exceeding by 36.9% the gross premiums accrued for the same period of the previous year. At the same time, payments of insurance indemnities and compensations in January-March 2023 amounted to 244.2 million lei and increased by 31.3% compared to payments in the corresponding period of 2022. According to official statistics, for the analyzed period, the share of general insurance increased from 94.3% to 96.2%, while the share of life insurance decreased from 5.7% to 3.8%. In particular, general insurance premiums in the first quarter of 2023 amounted to 638.7 million lei, which is 39.5% more than in the same period of 2022, while the amount of life insurance premiums decreased by 6.9% - to 25.6 million lei. Herewith, approximately 48.2% of the total general insurance premiums fell in January-March 2023 on motor third party liability insurance - 320.1 million lei (+ 39.9% compared to the same period in 2022) and 17.6% - for land transport insurance (CASCO) - 116.8 million lei (+23.3%, compared to the same period in 2022). About 93.5% of the indemnities paid in the first quarter of 2023 fell on general insurance - 228.4 million lei, which is 30.6% more than in the same period a year earlier. Health insurance payments amounted to 6.5% of the total - 15.8 million lei, which is 42.2% more than in the same period a year earlier. Most claims in January-March 2023 were paid for motor third party liability insurance - 52.6% of the total indemnities, and CASCO - 27.5% of the total. Meanwhile, in the first quarter of 2023, motor third party liability insurance indemnities amounted to 128.4 million lei in monetary terms, which is 44.2% more than in the same period of 2022, while CASCO indemnities increased by 6.4 %, amounting to 67.1 million lei.// 25.05.2023 — InfoMarket.

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