Moldovan insurer seeking investors for 80% stake in company

Moldovan insurance company Moldasig is looking for investors to strengthen its reputation and financial stability in the market.

Moldasig is actively seeking investors by offering 80% of the company's share capital for purchase.

The company ended the first half of 2023 with a net profit of MDL 15.98 million ($883.374), an increase of approximately 19% compared to the first half of 2022. The operational result recorded during this period was MDL 7.06 million. Its gross premiums totaled MDL 238.06 million, up 7.34% on the prior year.

Since March 2023, Moldasig holds a market share of 24.6% in gross written premiums terms, strengthening its position compared to the end of 2022 when it controlled approximately 16.8% of the market.

Moldasig said it is currently in the midst of a reform process and is offering an 80% stake in the company's share capital for purchase, in a unique package of tradable shares on the regulated market of the Republic of Moldova. The purpose of this move is to strengthen the company's reputation and financial stability.

Victor Coada, CEO of Moldasig, said: "As the entire insurance market in our country is on the path towards aligning with European insurance standards, Moldasig is going through a period of reform. We embarked on this renewal and reshaping of the company's ownership with the idea that an important criteria for a credible and successful business is the reputation and financial strength of its shareholders."

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