The profit of Moldovan insurance companies in the I quarter of 2009 consisted 23 million 925 thousand leis ($ 2,13 million), which is 50.77% lower than in I quarter of 2008 (48 million 607 thousand lei ).
According to the National Commission of Financial Market, in the I-st quarter of 2009, consolidated assets of insurance companies in Moldova amounted to 1.36 billion lei ($ 121 million), representing a 23.46% increase in comparison to the same period, last year. However, in the I-st quarter of 2009, net assets of insurance companies amounted to 658.66 million lei - 59% more than in the I - st quarter of 2008; paid charter capital - 331.53 million lei - for 55.47% more insurance reserves and funds - 444.57 million lei - for 7.36% more. According to the rating agencies Standard x26 Poor's and AM Best, 2009, will be a year of challenges for companies that are present in the European insurance market, because of the economic crisis. Analysts predict a reduction of life insurance market in 2009, stagnation in the non life field. Agency reported to insurance companies on such a source of capital, as reinsurance, compensates for the lack of liquidity in the market and challenging lending conditions. Rating agency S x26 P's warns that, although the situation in the capital markets has improved in comparison with the period of economic crisis, the capitalization of European insurance industry declined by 50% compared with 1 January 2008.