This conclusion was reached by the National Bank of Moldova following the regular meeting of the National Committee for Financial Stability,
Insurers still have a sufficient level of liquidity to cover their liabilities. Stability is guaranteed by the fact that about 25,6% of gross insurance premiums have been reinsured, which is, however, by 3,9% less than in the previous year. However, insurance organizations have thus ensured guarantees of payments on their liabilities. Over 19% of payments on insured events were recovered from reinsurers, which testifies to efficient risk management and adequate level of financial protection in the insurance sector.
The regulator also considers another trend of market development and improvement of the level of protection of insurance consumers as positive. The volume of gross insurance premiums grew insignificantly, as well as the profitability of the sector. But this decrease in growth rates is caused, in NBM’s opinion, by partial liberalization of premiums on compulsory insurance of civil liability of car owners.
