Moldasig writes approximately €24 million ($28 million) in annual premiums and employs around 540 people. It currently holds about 14 per cent of the Moldovan non-life market. With this acquisition, VIG will double its premium volume in Moldova, further consolidating its position as a leading insurer in Central and Eastern Europe.
“This acquisition demonstrates our strong commitment to the Republic of Moldova,” said Peter Höfinger, Deputy CEO of VIG. “Our strategic objective is to contribute to the better service of the Moldovan economy and its citizens by further strengthening the insurance sector.”
The deal is expected to close in the coming days, subject to approval from the competition authority. It follows a multi-stage bidding process organised by the Moldovan state, according to a report from BestWire.
VIG entered the Moldovan market in 2014 through Donaris, which today serves more than 120,000 customers. The addition of Moldasig strengthens its footprint in Southeastern Europe, where the group has steadily expanded in recent years.
Insurance penetration in Moldova remains among the lowest in Europe, with premiums representing less than 2 per cent of GDP, compared with 6 to 7 per cent across the European Union. The market is dominated by non-life products, particularly motor insurance, while life insurance is still underdeveloped. For international groups like VIG, this provides long-term growth opportunities as financial literacy increases and regulation gradually aligns with EU standards.
The acquisition comes as VIG continues to demonstrate financial resilience despite catastrophe losses. In 2024, the group absorbed €617 million in claims from storm Boris floods in Central and Eastern Europe, yet still reported after-tax profit of €645.3 million, up from €559 million in 2023. Gross written premiums increased to €15.23 billion from €13.78 billion, although the combined ratio rose slightly to 93.4 from 92.6.
For 2025, VIG expects profit before taxes between €950 million and €1 billion. Its wider Central and Eastern European footprint, including its strengthened presence in Moldova, is expected to contribute meaningfully to these results.
VIG’s growth strategy continues to focus on emerging Central and Eastern European markets, where insurance density remains relatively low but the potential for expansion is significant. While Moldova’s small market size limits the immediate financial impact, the acquisition secures early positioning in a market expected to grow as incomes rise and EU integration progresses.
