Moldovan Insurance Industry is Among the Smallest in Europe

Date: 2015-09-16

“• Moldova is a low-income country with high population density. Its economy is heavily dependent on agriculture, fisheries and farming, due to its favorable climate and fertile land. 

• The Moldovan insurance industry is among the smallest in Europe.

• In 2012, the insurance regulator National Commission on Financial Markets (NCFM) enacted a law to separate composite insurers into life and non-life businesses.

• The regulatory reform in 2012 was also opened new distribution channels in the Moldovan insurance industry, enabling credit and savings institutions to sell insurance policies. 

• The small size of the economy limits the size of the insurance industry.”

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