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Moldova insurance market: $78.7 million industry estimated during 2012
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The Insurance Industry in Moldova, Key Trends and Opportunities to 2017 - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-03-28 22:48:03
The Moldovan insurance industry is among the smallest in Europe, with gross written premiums amounting to MDL953.2 million (US$78.7 million) in 2012. The country´s insurance penetration rate stood at 1.2%, comparatively low compared to the 2012 European average of 7.6%. The insurance industry is dominated by the non-life segment, which accounted for 87.6% of the gross insurance premium in 2012. There were 19 companies operating in the industry at end of 2012, with three insurers operating in both the life and non-life segments. The insurance industry is expected to grow at a CAGR of 6.9% over the forecast period (2012–2017). Moldova´s economy is highly dependent on agriculture, which makes the country vulnerable to adverse weather conditions. After registering a strong growth for two years (in 2010 and 2011), GDP registered an abrupt slowdown in 2012 due to severe drought in the country. The regulatory reform to separate composite insurers into life and non-life segments by 2012, is expected to led to consolidation in the industry. The brokers´ distribution channel is increasingly gaining prominence in the Moldovan insurance industry. The Moldovan parliament passed a resolution in April 2012 to increase the amount of benefits paid on insured cars in the event of damage. The decision is expected to act in the favor of customers and will drive demand for motor insurance products. Click for report details: www.companiesandmarkets.com/Market/Finance-and-Banking/Market-Re .. Browse all Finance and Banking Market Research Reports www.companiesandmarkets.com/Market/Finance-and-Banking/Market-Re .. Browse all Finance and Banking Company Profile Reports www.companiesandmarkets.com/Market/Finance-and-Banking/Company-P .. Browse all Latest Market Research Reports www.companiesandmarkets.com/Market/All/Market-Research?aCode=f3f .. About Us Companiesandmarkets.com is a leading online business information aggregator with over 300,000 market reports and company profiles available to our clients. Our extensive range of reports are sourced from the leading publishers of business information and provide clients with the widest range of information available. In terms of company profiles, Companiesandmarkets.com’s online database allows clients access to market and corporate information to over 100,000 different companies. We provide clients with a fully indexed database of information where clients can find specific market reports on their niche industry sectors of interest.
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