National Bank of Moldova reports first quarter insurance sector growth with all insurers meeting prudential requirements

The National Bank of Moldova published its first-quarter 2026 review of the insurance sector, showing broad growth in balance sheets and earnings while insurers remained within prudential limits. At March 31, 2026, all nine licensed insurers reported solvency ratios above 100 percent, liquidity ratios above 1 for each insurance category, and sufficient admitted assets to cover technical reserves and the minimum capital requirement. Total assets rose 3.4 percent from end-2025 to MDL 6,103.5 million, liquid assets increased to MDL 3,774.7 million, and eligible own funds reached MDL 1,460.5 million. Technical reserves increased 2.0 percent to MDL 3,535.0 million, while admitted assets allocated to cover technical reserves and the minimum capital requirement totaled MDL 4,713.2 million, leaving a surplus of MDL 701.6 million, with government securities accounting for 68.3 percent of covering assets. Average solvency in general insurance edged down 0.7 percentage points to 163.8 percent, while life insurance solvency rose to 644.1 percent. Average liquidity increased to 3.56 in general insurance and fell to 15.39 in life insurance. Gross written premiums increased 10.8 percent year on year to MDL 820.2 million and claims paid rose 24.1 percent to MDL 386.2 million. General insurance accounted for 96.7 percent of premiums, with motor lines making up more than 65.3 percent of that segment. The general insurance loss ratio rose to 46.3 percent, but the net combined operating ratio fell to 98.6 percent. Sector net profit increased 83.6 percent year on year to MDL 68.7 million, and only one insurer reported a loss.