GEORGIA: UNISON's GWP was 3 times ahead the market growth rate in 3 quarters of 2018

10 January 2019 — Marina MAGNAVAL
Based on 3Q2018 data, Georgian insurer UNISON has improved its positions on the market and entered TOP-5 insurance companies in terms of GWP, according to the regulator's statistics.

Total GWP of the market in 2018 keeps the growth trend. The market has increased by almost 21% y-o-y and UNISON was 3 times ahead of the market growth rate. The company's GWP increased by 63% y-o-y, as the data show.

As a result, UNISON moved to TOP-5 in general in terms of collected premiums. In 2018 the insurer had a significant improvement in property insurance. The company moved to the second place and took 22% of the property insurance market.

UNISON remains an unconditional leader of the market of air and marine transport insurance, and also had significant progress in travel insurance, where it took the 3rd place in the retail segment. UNISON keeps stable growth in health insurance and motor insurance as well.

In 2018 UNISON paid claims amounted to GEL 9.8 million, which is 63% of its net premiums for the period under consideration. GEL 8.2 million of that were paid in medical insurance.

*1 EUR = GEL 3.0306 (30.09.2018)

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