GEORGIA: Ardi signs investment agreement with Gazelle Finance

18 August 2022 — Marina MAGNAVAL
Insurance company Ardi, one of the top 5 insurers in Georgia in 1Q2022, signed an investment agreement with the multinational investment fund Gazelle Finance, as a result of which the fund became a strategic shareholder of Ardi, Business Georgia.reports.

The investment package is about USD 2 million, which will contribute to further development of the insurance company through improvement of the quality of services and introduction of advanced digital technologies.

"New investments will allow the company to reach a completely new level of development, which in the near future will allow introduction of new, more sophisticated services. The digital ecosystem that Ardi uses today for both internal process management and consumer platforms for our customers will change dramatically. We highly appreciate the constant and growing support of Ardi from Gazelle Finance as an international financial partner recognized in many countries, which knows the specifics of the Georgian financial market best of all", says Mikhail DZHAPARIDZE, CEO of Ardi.

According to Jeffrey LIBERT, CEO of Gazelle Finance, the investment will enable Ardi to take an important step towards further improving its corporate governance structure in line with international standards.

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