STATISTICS:

STATISTICS: GEORGIA, 1Q2016: Insurance business grew by 12.71%; a positive trend was seen on almost all types of insurance

In January-March 2016, the Georgian insurance market increased by 12.71% y-o-y in local currency to GEL 130.66 million (EUR 48.76 million), according to the data published by the Insurance Supervisory Office - ISO.

The positive trend recorded by the local insurance industry was driven by the increasing of GWP reported in almost all business lines, except for the Property insurance, CARGO and Suretyship lines.

According to the quarterly results, IMEDI L remained the market's leader in terms of GWP and accounted for the largest share on the local market (23.93%); the second place was occupied by PSP with a 20.04% market share. GPI Holding, member of VIENNA Insurance Group since 2006, ranked third with 18.60%, followed by ALDAGI (11.44%) and ARDI Insurance (6.52%).

Access www.xprimm.com and download the 1Q2016 Georgian insurance market statistics.

Market portfolio (in EUR and GEL):
  • Gross written premiums
  • Paid claims
  • Growth rates

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

GEORGIA: Starting in 2019 the model of financing universal health insurance in the country will change

Beginning in 2019, Georgia will change the model of financing within the General Health Insurance program. According to the Ministry of health the new system of reimbursement provides for transition to a model of diagnostically related groups (DRG), based on which a patient's diagnosis, age, length of hospitalization, and other criteria will determine the amount of funding, wrote Business Georgia.

2018-09-19

ON THE MOVE

ALLIANZ announced three executives appointments

German insurance Group ALLIANZ announced three senior leadership appointments at ALLIANZ DIGITAL Health, ALLIANZ Private Krankenversicherung and Allianz Global Corporate & Specialty SE.

18.01.2019

TOP EVENT

Inclusive insurance on the agenda of the second CEE & SEE - Regional Actuarial Insurance Conference in Skopje, Macedonia

Insurance should be accessible to all social classes, regardless of their wealth and income status. Products offered today are conventional insurance products, largely inspired from the developed markets as "one-size-fits-all" solutions, affordable to only middle- and high-income clients in the Eastern Europe's emerging & developing markets. The low insurance penetration rates across the region show the need for another approach.

10.01.2019

Reducing the risks in agriculture by using insurance means, discussed in Skopje

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.

06.11.2018

IIF 2018 - Insurance in a DIGITAL WORLD

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.

05.11.2018

See all