According to the 1Q results, the Georgian insurance market grew by 13.88% in local currency, reaching GEL 452.92 million (EUR 151.90 million), according to data published by the Insurance Supervision Service of Georgia.

Health insurance is the largest segment in the market portfolio, it rose by 17.82% in the first three months of this year, and its share reached 55.04%. The second largest segment on the market is motor insurance, here the growth rate was 19% (Motor Hull and MTPL).

It is worth noting that total paid claims in the first quarter decreased by 3.08% to GEL 176.51 million (EUR 59.20 million). In terms of life and non-life insurance, it is noteworthy that paid claims in non-life insurance decreased (-4.77%), while in life insurance, insurers paid 31.81% more than a year ago.

In 1Q2025, 19 insurance companies operated on the market, among which GPI Holding stays ahead of the game in terms of GWP (GEL 91.57 million). The top three remained unchanged compared to the same period last year: TBC and Imedi L rank second and third, respectively.

Access xprimm.com and download the latest Georgian insurance market statistics for 1Q2025 in EUR and GEL.