STATISTICS: GEORGIA, 1H2021: overall market growth rate, as well as in life and non-life insurance, were almost the same - about 19%

20 September 2021 — Marina MAGNAVAL
The Georgian insurance market ended 1H with an increase of 19% y-o-y, GWP reached GEL 448.64 million (EUR 119.29 million), according to the data published by the Georgian Insurance Supervision Service.

Life and non-life insurance had almost the same growth rates, also at 19%, while the market remains non-life oriented - non-life insurance occupies over 93% of the portfolio.

Of the largest market segments, the most impressive growth was recorded by Motor Hull, GWP in which increased to GEL 74.49 million, while property insurance also grew quite much - by more than 25%, as well as accident insurance and health insurance.

Insurers' paid claims expanded by almost 26% to GEL 194.19 million. In terms of segments, the largest amount of paid claims fell on health insurance - almost GEL 105 million.

Out of 18 companies operating in the Georgian insurance market, GPI Holding continues to lead (GEL 86.11 million of GWP), Aldagi ranks second, while Imedi L and TBC Insurance have swapped their places - Imedi L went down to fourth, and TBC Insurance moved up to third.

Access xprimm.com and download the latest data of the Georgian insurance market statistics.



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