GEORGIA: insurers' net profit drops 2.8 times y-o-y in the first quarter of 2022

2 June 2022 — Marina MAGNAVAL
For the period from January to March 2022, net profit of the Georgian insurance sector (18 insurers) decreased by 2.8 times y-o-y and amounted to GEL 4.7 million/EUR 1.36 million (vs GEL 13.5 million a year earlier), writes Business Georgia.

However, despite this, GWP volume of the insurance companies is growing - in the first three months of 2022, it reached GEL 267 million, the assets also increased - up to GEL 1.1 billion.

GPI Holding (GEL 59.8 million) is the leader in terms of GWP, followed by Imedi L (GEL 38.9 million), TBC Insurance (GEL 35.7 million), Aldagi (GEL 22.5 million) and Ardi (GEL 22.4 million).

*EUR 1 = GEL 3.46 (31.03.2022)

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