Moldova
Growth
Amounts are always in euros: this changes how growth is measured, nothing else.
How growth is measured →Latest news26 Oct 2026: All nine insurers profitable in H1 2026; net profit up 25.6% to MDL 126m All news (11) →
Coverage All insurers licensed by the National Bank of Moldova; there are no branches of foreign insurers.
Market share by insurer
Latest quarter: H1 2026
Premium written H1 2026, year to date: €88m, +11.6% against H1 2025 in local currency. Share change in percentage points against the same period a year earlier.
Largest insurers, H1 2026
Premium year to date and growth; the bar is the share, its change in points under it.
Gains and losses in share
Change in share against H1 2025, in percentage points; an insurer with no premium now has lost its whole share.
- Asterra Grup · 1 Sep 2026: H1 2026: premiums up 11.6% to MDL 1.78bn; Asterra leads with 18.3%
- Moldasig · May 2026: VIG closed the Moldasig acquisition after all regulatory approvals (95.2% stake according to VIG's results presentation).
All figures
| Insurer | H1 2026 €m | Share | Δ pp | H1 2025 €m | Growth |
|---|---|---|---|---|---|
| Asterra Grup | 15.8 | 17.8% | +3.8 | 11.5 | +41.9% |
| GRAWE Carat Asigurări | 13.7 | 15.5% | −1.1 | 13.6 | +4.4% |
| General Asigurări | 10.5 | 11.9% | −1.7 | 11.1 | −2.1% |
| Moldasig | 10.0 | 11.3% | −0.8 | 9.9 | +4.1% |
| Donaris VIG | 9.9 | 11.2% | −1.9 | 10.7 | −4.4% |
| Intact Asigurări Generale | 9.7 | 11.0% | −0.6 | 9.4 | +6.1% |
| Acord Grup | 9.6 | 10.9% | +3.2 | 6.3 | +58.6% |
| Moldcargo | 5.1 | 5.8% | −1.8 | 6.2 | −14.8% |
| Transelit | 4.1 | 4.7% | +0.8 | 3.2 | +33.9% |
| Market | 88.4 | 100% | 81.7 | +11.6% |
Each insurer's figures: All insurers, growth and latest quarter → · Full-year outlook →
What's happening in Moldova
The latest news on the market's insurers and their supervisor, newest first: facts in Polisa's own words, each with its source.
- ResultsAll nine insurers profitable in H1 2026; net profit up 25.6% to MDL 126m
NBM data: the nine insurers made MDL 126.2m net profit. Intermediaries placed 59.4% of the MDL 1.78bn of premiums and earned MDL 341.2m (+2.4%).
Source: XPRIMM (NBM data via Logos Press) - PricesNew RCA base premium up 12.9%; Green Card zone 1 up 14.3%
New rules approved by the National Bank of Moldova and published on 25 August raise the base premium for domestic motor TPL by 12.9% and for Green Card zone 1, which includes Ukraine, by 14.3% from 4 October.
Source: XPRIMM - ResultsH1 2026: premiums up 11.6% to MDL 1.78bn; Asterra leads with 18.3%
NBM data via XPRIMM: premiums MDL 1,778m (EUR 88.3m), over 64% motor, life 2.8%; claims paid rose 18.3% to MDL 776m. Leaders: Asterra Grup 18.3%, GRAWE Carat 13.1%, General Asigurări 12.2%.
Asterra GrupGRAWE Carat AsigurăriGeneral AsigurăriSource: XPRIMM (NBM data) - LawNBM drafts Insurance Guarantee Fund law to protect motor accident victims
The draft fund would pay road-accident victims if an RCA insurer goes bankrupt; RCA insurers would fund it, starting with a one-off 1% of prior-year RCA premiums. Planned entry into force: 30 September 2029.
Source: XPRIMM
7 earlier
- Results2025 net profit of insurers falls 75% to MDL 72.9m; two end the year in loss
NBM data: sector net profit dropped 75.2% to MDL 72.9m in 2025. Two insurers posted net losses and seven made operating profits; the net operating ratio was 103.5% and ROE 3.9%.
Source: XPRIMM (NBM data via bizlaw.md) - DealVIG closed the Moldasig acquisition after all regulatory approvals (95.2% stake according to VIG's results presentation).MoldasigSource: XPRIMM (28 May 2026)
- LawDraft insurance law would bring Solvency II rules to Moldova
A draft law on insurance and reinsurance, attributed to the NBM, would transpose Solvency II with stricter capital, risk-management and disclosure rules and powers to restructure insurers in difficulty.
Source: XPRIMM - ResultsFY2025: premiums up 3.1% to MDL 3.35bn; claims paid up 16.3%
Premiums reached MDL 3,351m (EUR 169.6m). Motor TPL and Green Card premiums fell 4.6% while their claims rose 26.1%; property grew 21%. Pre-tax profit was MDL 83.1m against MDL 349.5m in 2024.
Source: XPRIMM - SupervisorNBM sets 2026-2027 supervision priorities for insurers
The National Bank of Moldova will focus on insurers' governance and internal control, underwriting risk, solvency and assets covering reserves, and ICT risk, through monitoring and on-site inspections.
Source: XPRIMM - DealVIG agreed to buy a further 5% of Moldasig from the state railway company, for a stake of 95.2% after closing.MoldasigSource: Logos Press (2 Dec 2025)
- PricesGreen Card tariffs rise: 15-day car policy up over 55% to EUR 34.94
New NBM base tariffs for motor TPL abroad apply from late November 2025; a 15-day Green Card for a car rises from EUR 22.50 to EUR 34.94. Reasons given include higher claims and repair costs in the region and the EU.
Source: XPRIMM
Five-year trend
Premium
Market share of the five largest
Lines in Moldova
All figures
Motor TPL, FY 2025: average premium €64 per policy, 3.2 claims per 100 policies, average claim €1,112. Prices in every market on the Motor TPL page →
Claims paid in Moldova
Insurers paid €75m to their customers in FY 2025, +15.2% on FY 2024 in MDL: €44 for every €100 of premium. Non-life claims were €72m; life insurance benefits €3.5m.
Premium and claims paid, FY 2021–2025
PremiumClaims paid% claims paid per €100 of premium
Claims paid by line, FY 2025
Claims and benefits paid in the year by all licensed insurers, before reinsurance. Source: National Bank of Moldova. Cash paid in the year, not the claims incurred that the combined ratios on this page are built from. Claims across all markets →
Reinsurance in Moldova
Share of non-life premium ceded, by line
Largest cedents
All figures
Capital cover across the market
Groups present
Each group's share of this market, its companies here, and where else it operates.
Profit and capital
Net profit by year
All figures
Each insurer's profit, return on equity and ratios: All insurers, solvency and profit →
Staff and premium per employee
FY 2025 premium over the insurers' reported employees. Agents, banks and group service companies are not employees, so an insurer that sells through others looks more productive: compare insurers of the same type.
Premium per employee, FY 2025
non-lifecomposite
Size and productivity, FY 2025
Each dot an insurer: employees across (log scale), premium per employee up; the larger the dot, the larger the premium.
By typeMedian per employee
All figures
| Insurer | Type | Employees | Premium €m | Premium per employee |
|---|---|---|---|---|
| GRAWE Carat Asigurări | composite | 192 | 30.8 | €161k |
| Asterra Grup | non-life | 216 | 25.0 | €116k |
| Acord Grup | non-life | 121 | 13.8 | €114k |
| Transelit | non-life | 88 | 7.2 | €82k |
| Donaris VIG | non-life | 440 | 21.2 | €48k |
| Moldasig | non-life | 560 | 21.6 | €39k |
| General Asigurări | non-life | 643 | 20.9 | €33k |
Staff: employees as each insurer gives them in its audited financial statements or management report, mostly the count at 31 December (Moldasig: the year's average; Donaris: the number during the year, its insurance agents included); the National Bank publishes none per insurer. Type: life where life insurance is 90% or more of the premium, non-life where it is 10% or less, composite in between. Productivity across all markets →
Questions about Moldova
Short answers from the figures on this page.
How big is the Moldova insurance market?
Insurers in Moldova wrote €171m of premium in FY 2025, +3.1% on FY 2024 in MDL. That is 0.9% of GDP and €72 per person.
Who is the largest insurer in Moldova?
GRAWE Carat Asigurări is the largest insurer in Moldova with 18.0% of premium (€30.8m) in FY 2025, ahead of Asterra Grup (14.6%) and Moldasig (12.6%); the three largest write 45% of the market.
How many insurance companies are there in Moldova?
9 insurers wrote premium in Moldova in FY 2025: 8 non-life and 1 composite.
Which insurance groups are present in Moldova?
Polisa records 2 insurance groups in Moldova in FY 2025; the largest by premium are GRAWE 18.0%, VIG 12.4%. Insurers with no group (independent or not in a group) write 69.6% of the premium.
What is the largest line of business in Moldova?
Motor TPL is the largest line in Moldova with 47.4% of premium (€81m) in FY 2025, then casco with 21.4%; life insurance is 3.3% of the market.
How well capitalised are the insurers in Moldova?
The median solvency margin of the insurers in Moldova was 153% at 31 December 2025: the typical insurer covered its required solvency margin 1.5 times (local rules, not Solvency II). All 9 insurers publish it.
RegulationRule changes2 rule changes that reach insurers in Moldova, with their dates
- Motor liability: prices move in different directions · Romania's price cap ended 1 July 2025
- Outside the EU: moving towards Solvency II · Moldova: draft law proposed from 1 January 2029
Spotted a wrong figure? Tell us and include the source.
All insurers
ExcelDownload CSVLicence| Insurer | Premium | Share |
|---|---|---|
| GRAWE Carat Asigurări | 30.8 | 18.0% |
| Asterra Grup | 25.0 | 14.6% |
| Moldasig | 21.6 | 12.6% |
| Donaris VIG | 21.2 | 12.4% |
| General Asigurări | 20.9 | 12.2% |
| Intact Asigurări Generale | 17.4 | 10.2% |
| Acord Grup | 13.8 | 8.1% |
| Moldcargo | 12.9 | 7.5% |
| Transelit | 7.2 | 4.2% |
CiteCite this pageThe reference in APA style and as BibTeX, each with a copy button, and the terms of reuse
Polisa compiles the figures; the original sources are named on this page and on the method page.
Polisa. (2026). Moldova insurance market: market shares, lines, solvency and claims [Data version 2026-11-11.13378f]. Retrieved November 11, 2026, from https://polisapro.com/markets/md
BibTeXShow entry
@misc{polisa_markets_md_2026,
author = {{Polisa}},
title = {Moldova insurance market: market shares, lines, solvency and claims},
year = {2026},
version = {2026-11-11.13378f},
howpublished = {\url{https://polisapro.com/markets/md}},
note = {Accessed 11 November 2026}
}Reuse: Polisa's compilation CC BY 4.0 · source data: BNM (free with credit, processing stated), Capital market disclosures (no re-use terms published), National Bureau of Statistics of Moldova (CC BY 4.0), World Bank (CC BY 4.0).