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Moldova: Profit of insurance companies before tax in Q1 2024 amounted to 82 million lei, up by 8.7% compared to the same period in 2023.

Moldova: Profit of insurance companies before tax in Q1 2024 amounted to 82 million lei, up by 8.7% compared to the same period in 2023.

The National Bureau of Statistics (NBS) presented such data, reporting that the total income of insurers in January-March 2024 amounted to 1 billion 163.4 million lei, exceeding the previous year’s figures by 8%, and their expenses increased by 7.9% - to 1 billion 081.4 million lei. According to the NBS, in the first quarter of 2024, accrued gross premiums of insurance companies amounted to 669.1 million lei, exceeding by 0.7% accrued gross premiums for the same period last year. At the same time, payments of insurance indemnities and compensations during this period amounted to 266.7 million lei and increased by 9.2% compared to payments in January-March 2023. According to official statistics, for general insurance premiums increased by 0.7 % - up to 643.5 million lei, and compensations - by 11% - up to 253.6 million lei. In the field of life insurance, the volume of premiums did not change and amounted to 25.6 million lei, while the volume of indemnities decreased by 17.1% - to 13.1 million lei. It is worth noting that 58% of the total volume of general insurance premiums in the reporting period accounted for compulsory motor third-party liability (MTPL) insurance - 370.6 million lei (+15.8%) and 20% - land transport insurance (CASCO) – 128.5 million lei (+10%). These same types of insurance accounted for the largest volume of indemnities - 58.5% and, accordingly, 30%: for MTPL, indemnities amounted to 148.4 million lei (+15.5%), and for CASCO - 75.3 million lei (+12 .2%). Other popular types of insurance: fire, other natural disasters and other property insurance, for which premiums amounted to 71.5 million lei (+38.5%), and indemnities - 9.4 million lei (-19.9%); health insurance – premiums amounted to 29.9 million lei (+10.9%), compensations – 17.8 million lei (+16.9%), etc. NBS data includes information on the activities of all insurance companies, including those with suspended or revoked license. // 24.05.2024 - InfoMarket.

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80% of newly issued shares of Moldasig insurance company are again offered for sale on the Stock Exchange of Moldova (BVM) at the previous initial price of 358.1 lei per share.
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