On June 12, Moldova celebrates the professional holiday of insurance workers.
Insurer's Day in Moldova was introduced in 2010, taking into account the social and financial significance of insurance activities and the responsibility of insurers. At the beginning of 2023, there were 127 licensed market participants in the insurance market of Moldova (6.7% more than a year earlier). In particular, there are 10 insurance companies (-1 during a year), 46 insurance/reinsurance brokers (+2) and 71 insurance agents (+7) operating in the country. In 2022, the total amount of premiums signed by insurance companies amounted to 2.4 billion lei, which is 28.3% more compared to the previous year (in nominal terms). As before, the market is focused on general insurance (94.8% of all premiums), while life insurance accounted for 5.2% of collected premiums. Compulsory insurance represents 46% of written premiums, and 64% for optional insurance. According to the NCFM, in 2022, market participants issued 1.9 million insurance policies, which is 4.1% less than a year earlier. At the same time, the only company that deals with life insurance (Grawe Carat Asigurari) sold 13,110 corresponding policies. It is noted that 5 leading insurance companies in the market signed about 72.3% of the total amount of premiums signed in 2022. The majority of premiums were signed for the Compulsory third party liability insurance for vehicle owners (30.8%), CASCO (20%) and Green Card (17.3%), while other types of insurance accounted for 31.9% of premiums. The amount of reimbursements paid in 2022 amounted to 905.7 million lei, or 36.8% more than in 2021. About 77.3% of reimbursements also fell on Compulsory third party liability insurance for vehicle owners, CASCO and the Green Card. // 12.06.2023 — InfoMarket
