Profit of Moldovan Insurance Companies Decreased by 1,9 Times in 9M
OREANDA-NEWS. December 09, 2013. As the “Informational Bulletin” of the National Commission for Financial Market states, in January-September 2013, the total profit of 9 insurance companies amounted to 43.5 million lei, and other 8 insurance companies have suffered losses of 8.5 million lei.
Net assets of the insurance companies as of late September 2013 totaled 1 billion to 138.6 million lei, increasing by 10.1% compared with the same period of the last year. This was due to the reduction of the market participants. As of late September 2013, the total amount of technical reserves under general and life insurance agreements totaled 956,4 million lei, increasing by 10.3% in comparison with the same period of 2012.
In particular, technical reserves attributable to general insurance amounted to 690,1 million lei (72,2% of the total), and technical reserves for life insurance - 266,3 million lei (27.8%). Compared with the late September of the last year, they increased by 5.8% and 23.9%, respectively. The total amount of premiums transferred in reinsurance in the field of general and life insurance amounted to 195,5 million lei.
The share of premiums transferred in reinsurance in the total volume of gross premiums accrued in January-September 2013, amounted to 22.4%. As InfoMarket agency has informed before, for 9 months of 2013 Moldovan insurance companies collected premiums amounting to 871,01 million lei, or 10.9% more than at the same period of the last year and the volume of paid reimbursements increased by 19.2% compared with the same period of the previous year and amounted to 318,9 million lei, respectively.