GEORGIA: the insurance market ended 1H with a decrease in profits

15 September 2021 — Marina MAGNAVAL
The first six months of 2021 the Georgian insurance market ended with a decrease in profits, Trend reports referring to the National Bank of Georgia.

Total annual profit of insurance companies in 1H decreased by GEL 11.5 million (~USD 3.6 million), or 39.3% and amounted to GEL 17.7 million (~USD 5.6 million). The insurance profits also decreased - from GEL 89.5 million (~USD 28.7 million) to GEL 83.1 million (~USD 26.7 million).

At the same time, the amount raised from direct insurance increased from GEL 377 million (~USD 121 million) to GEL 448.6 million (~USD 144.3 million).

Total assets of insurance companies amounted to GEL 1.034 billion (~USD 332.6 million), capital - GEL 278.6 million (~USD 89.6 million), as Trend informed.

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