Share of Foreign Capital in Moldovan Insurance Companies Makes 22,6%.
OREANDA-NEWS. August 04, 2014. As it was reported by the national Commission for financial market, by the end of the last year the charter capital of all insurance companies of Moldova amounted 469,3 million lei, including 22.6% (106.1 million lei) - investments of foreign residents.
At the end of 2013 foreign capital was present in 5 of 18 acting insurance companies of Moldova - Grawe Carat Asigurari (Austria, Romania, Russia; 99% of the equity); Donaris Group (Liechtenstein; 93,4%); Victoria Asigurari (Holland; 82,3%); Asito (UK; 48,4%); Transelit (2,7%). In total, approximately 53.5% of foreign investments in the charter capital of Moldovan insurance companies have been made by the non-residents of Austria, 21,6% - Great Britain, 13,2% - Liechtenstein, 11,6% - Holland; 0,1%- Romania.
It is noted that the total volume of foreign investments in the charter capital of Moldovan insurance companies in 2013 decreased by 37.3% compared to 2012. It happened mainly due to revocation of licenses of the company Exim-Asint and reduction of the charter capital (for the compliance of the net assets of the requirements of the legislation) of the company Donaris-Group.
According to the NCFM, in 2008-2013, the largest volume of foreign investments in the charter capital of insurance companies of Moldova was registered in 2011 - 176,32 million lei (48% - Russia; 41,7% - Austria; 22,9% -UK; 36,6% - Liechtenstein; 19,7% -Holland).
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