According to David Onoprishvili, Chairman, Insurance State Supervision Service, the insurance sector has demonstrated consistently high growth in recent years—over 10% per year. "In recent years, the insurance sector has been developing quite intensively... recently, growth has averaged 15%, 17%, 18%", he noted, adding that the figure for 2025 was a bit lower—around 12%. According to David Onoprishvili, health insurance remains the market driver, as the bulk of the growth comes from health insurance, which currently accounts for GEL 600 million.
"It's clear that the sector still has some room for development", he noted, pointing to the weak development of life, property, and liability insurance. Mandatory motor insurance is expected to be launched soon, which could accelerate market growth. Speaking about the market's potential, the head of the Insurance State Supervision Service noted that the market will at least double in size in five years.
He also emphasized that the sector profitability remains low. "Profits are often less than 10%, sometimes even 5%", he said.
Overall, according to David Onoprishvili, the situation in Georgia remains relatively stable, despite external risks. "The situation in other countries is much more complex, but we are in a better position in this regard", he emphasized.
8038 views
