Insurance companies last year paid 662.1 million lei in insurance, up 11% on 2020. The data were generalized based on information presented by the ten insurance companies that were functional on December 31, 2021, IPN reports.

According to the National Commission for Financial Markets, almost 95% of the insurance represented general insurance, while slightly over 5% – life insurance. The largest indemnities were paid based on compulsory civil liability motor insurance – about 267.1 million lei (+37.9%), CASCO insurance – 227.5 million lei (+25.6%), Green Card – 58.8 million lei (-21.1%), health insurance – 34.7 million lei (+30.8%) and on agricultural insurance – 16.5 million lei (-37.5%).

The Moldovan insurers last year collected gross written premiums in the amount of over 1.9 billion lei, up 32.6% on a year before. This is an unprecedented rise in the history of Moldovan insurance, primarily after the 10.6% decline in the gross premiums written in 2020, following the COVID-19 pandemic.

Car insurance prevails on the insurance market with over 70% of the gross premiums written from general insurance.

Even if the volume of gross written premiums increased significantly in 2021, the insurance penetration rate was only 0.80 of the GDP.