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Insurance companies’ profit in the first half of 2023 amounted to about 187.2 million lei, 30% higher than in 2022 (143.97 million lei).

Insurance companies’ profit in the first half of 2023 amounted to about 187.2 million lei, 30% higher than in 2022 (143.97 million lei).

According to the National Bank of Moldova (NBM) and the National Financial Market Commission (CNPF) data, such profit (before tax) was obtained by 9 licensed insurance companies in Moldova. The highest profit was obtained by Grawe Carat Asigurari – 47.7 million lei (+43% compared to the same period of 2022), Intact Asigurari Generale – 41.7 million lei (+24.2%) and Asterra Grup – 37.13 million lei (up 2.4 times). As of the end of June 2023, the total aggregate assets of insurance companies in Moldova amounted to 4 billion 616.3 million lei (+14%), including net assets - 1 billion 496.7 million lei (+13.3%). The total amount of technical reserves amounted to 2 billion 663.7 million lei, increasing by 13.1% compared to the first half of 2022. The solvency rate in general insurance ranged from 112.08% to 182.87%, and in life insurance - 631.4%. The liquidity ratio ranged from 1.61% to 6.26% in general insurance and was 24.11% in life insurance segment. In the first half of 2023, insurance companies collected premiums worth 1 billion 398.3 million lei (+18.3%) and paid claims worth 461.8 million lei (+18%). 380 million lei was directed to reinsurance. About 58.3% of premiums on the insurance market were collected through insurance intermediaries: 815.5 million lei, which is 24.7% more than in the first half of 2022. General data on the insurance market include information on the activity of 9 licensed insurance companies. Their aggregate authorized capital amounted to almost 420.88 million lei: the largest - at General Asigurari (67.5 million lei), Grawe Carat Asigurari (57.3 million lei), Donaris VIG (50.7 million lei).). // 25.10.2023 - InfoMarket.

News on the subject

Moldova to increase the size of compulsory health insurance funds.
Moldova to increase the size of compulsory health insurance funds.
The Regulation on the registration/licensing of foreign insurance or reinsurance companies, as well as their branches in Moldova, has been published.
The Regulation on the registration/licensing of foreign insurance or reinsurance companies, as well as their branches in Moldova, has been published.
Monitorul Oficial published and entered into force three new regulations relating to the activities of the insurer/reinsurer.
Monitorul Oficial published and entered into force three new regulations relating to the activities of the insurer/reinsurer.
The Parliament adopted in the second reading amendments to the state social insurance budget for 2023, reducing its revenues and expenses by 55 million lei.
The Parliament adopted in the second reading amendments to the state social insurance budget for 2023, reducing its revenues and expenses by 55 million lei.
Foreign insurance or reinsurance companies will be able to operate in Moldova only through branches licensed by the supervisory body in our country.
Foreign insurance or reinsurance companies will be able to operate in Moldova only through branches licensed by the supervisory body in our country.
On June 12, Moldova celebrates the professional holiday of insurance workers.
On June 12, Moldova celebrates the professional holiday of insurance workers.