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.

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

IGI appoints its first Chief Technology Officer

International General Insurance Holdings Limited (IGI), the international specialist commercial insurer and reinsurer, has announced the appointment of Nasser ZAGHA to the newly-created role of Chief Technology Officer.

15.11.2018

TOP EVENT

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