According ISO figures, the negative trend recorded by the local insurance industry was driven by the lower premiums reported by two of the main business lines: accidents (-33.8%) and health insurance (-36%), which accounted together for more than 60% of the entire insurance premium production: GEL 53.4 million or EUR 22.3 million.
The market ranking is dominated by two insurers: ALDAGI BCI - the first insurer founded in the Georgian market in 1990 and fully owned by the Bank of Georgia - with a market share of 29.5%, and GPI Holding - member of the Vienna Insurance Group since 2006 - with a market share of 29.3%.
Access www.xprimm.com and download the 1Q2014 Georgian insurance market statistics.
Market portfolio & market ranking (in EUR and GEL):
- Gross written premiums
- Paid claims
- Growth rates
- Market shares