STATISTICS: GEORGIA, 3Q2015: The market was up by 29% due to the impressive growth on the health segment

At the end of September 2015, the Georgian insurance industry totaled GEL 292 million (EUR 109 million), as the figures published by the Insurance Supervisory Office showed. Compared with 3Q2014, the local insurance market increased by 29.4% y-o-y, due to the 94% growth rate reported on the health insurance segment.

Per insurance classes, the GWP portfolio was formed in proportion of 44.5% - health insurance, 19.6% - property insurance, 14.9% - motor hull policies and 6.1% - life. The remaining rest (15%) was completed by other non-life sub-classes.

Overall, during January-September 2015 the Georgian insurers paid claims of about GEL 151.5 million (EUR 56.7 million), of which more than 62% were related to health insurance class.

In terms of gross written premiums, the market ranking is dominated by three insurers - which have together a 57% market share GPI Holding (19.6%), ALDAGI (19.1%) and IMEDI L (18.5%).

Access www.xprimm.com and download the 3Q2015 Georgian insurance market statistics.

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

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

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