STATISTICS: GEORGIA, FY2015: The two units of VIG accounted for about 30% of local insurance market

The Georgian insurers market ended the financial year 2015 in black, as gross written premiums increased by 19% y-o-y to GEL 360 million (EUR 137.5 million), according to the State Insurance Supervision Service of Georgia reports.

The aggregate GWP portfolio consisted mainly of health insurance - GEL 150 million (~43% of total GWP), followed by property insurance line - GEL 69 million (19% of total), motor hull policies - GEL 56 million (16%) and life segment - GEL 25 million (7%).

Up until December 2015, in the Georgian insurance market operated 14 companies.

By gross premium written volume, the market leader was GPI Holding VIG with GEL 73 million (~EUR 28 million, 20.3% market share), followed by ALDAGI - GEL 71 million and IMEDI-L with GEL 63 million.

The fourth an fifth places were accounted by UNISON - GEL 31 million and IRAO VIG - GEL 29 million.

Access www.xprimm.com and download the FY2015 Georgian insurance market statistics.

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

Market rankings (GWP/Claims/Market shares/Growth rates - in EUR and GEL):
  • Total market ranking
  • Life insurance ranking
  • Non-life insurance ranking

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

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