GEORGIA: the number of insured vehicles makes only 7% of the country's total vehicle fleet

27 September 2022 —
According to the financial reports of Georgian insurance companies, the number of insured vehicles in the country makes only 7% of the total fleet, or 108,486 units, Business Georgia wrote.

The largest insurers in Georgia in terms of the number of insured motor vehicles are TBC Insurance (14,259); GPI Holding (11,696); Aldagi (10,600); New Vision Insurance (6,046); PSP Insurance (5,492).

According to experts, in terms of GWP volume, motor insurance is the second segment after health insurance. In the first half of 2022, motor insurance premiums amounted to GEL 84.4 million (~EUR 31 million), which is GEL 10 million more than in 2021. Total paid claims of motor insurers reached GEL 54.6 million (~EUR 20 million).

*EUR 1 = GEL 2.72