GEORGIA: income tax of insurers in 1H was the lowest in the last few years

10 November 2022 — Marina MAGNAVAL
In the first half of 2022, net profit of the Georgian insurance sector amounted to GEL 10.3 million (~EUR 3.30 million), which is 42% less than a year earlier in the same period, Business Georgia wrote.

According to the National Insurance Monitoring Service, insurers' income tax amounted to GEL 2.8 million, which is the lowest in the past few years: in 2017, insurance companies paid out GEL 5.7 million, in 2018 - GEL 6.5 million, in 2019 year - GEL 7 million, in 2020 - GEL 10.2 million, in 2021 - GEL 8 million.

In the first six months of 2022, total assets of 18 insurance companies operating in Georgia reached GEL 1.15 billion.

*EUR 1 = GEL 3.12 (01.07.2022)



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