insurance sector

Decrease in profitability of insurance business against the background of partial liberalization of tariffs and toughening of requirements for stability of insurance companies should not be an obstacle for development, the National Bank of Moldova (NBM) considers and urges insurers to adapt more actively to the changes, reports logos Press.

The solvency ratio of insurance companies was 180% for general insurance and 695% for life insurance, well above the minimum requirement (≥100% plus a 10% margin of safety), reflecting the solid financial position and the ability of companies to meet their obligations and ensure the long-term stability of the sector, Logos Press reported.

At the end of the first quarter, three insurance companies went into negative territory, affecting the profitability of the insurance business as a whole, Logos Press reported.