XPRIMM's Insurance Profile Georgia FY2021 & 1H2022 - on the Baden Baden stands

20 October 2022 — Daniela GHETU
In 2021, GWP by Georgian insurers increased by 16% to ~EUR 220 million, but insurers' profitability stalled, mostly because of the increasing claims expenses and local currency exchange rate's oscillations throughout the year, XPRIMM's Insurance Profile Georgia FY2021 & 1H2022 shows. The report will be available in Baden-Baden.

The report features analysis and statistical data on the insurers and insurance brokers' results in 2021 and the first half of 2022, as well as interviews with David ONOPRISHVILI, Chairman, Insurance State Supervision Service of Georgia, Michael JAPARIDZE, CEO, ARDI Insurance, Giorgi BARATASHVILI, CEO, Aldagi and Nino KOBAKHIDZE, Director General Global Benefits, thus offering a comprehensive image of the Georgian insurance market's evolution in the challenging 2021 and 2022.

"The market situation is improving; the insurers are capable of achieving their targets and there are always more possibilities for further development. However, there is still a lot of uncertainty, and we all need to be ready for any possible crisis situations developing," David ONOPRISHVILI stated for XPRIMM, talking about the current status of the market and its future perspectives.

While Aldagi is expanding towards the reinsurance field and focuses on the benefits of technology, being the first company in Georgia to incorporate segment and databased approaches into its tariff policy. AS one of the most important health insurance providers in a market dominated by this line of business, Ardi Insurance is not only sharing the interest for technological progress, but also takes firm steps toward creating the best experience for its customers by investing in changing the way people approach their private or family doctors in a friendly and enjoyable experience. At the same time, Global Benefits maintained a strong focus on providing its customers the best experience, thus achieving a high and constant retention rate, of 98% of corporate clients for life products and 75% for non-life products.

Visit the XPRIMM meeting point in Kurhaus Baden-Baden to get your complimentary copies of the latest XPRIMM reports.

Share |