Georgia

NOTE FROM THE EDITOR
Georgia left the Commonwealth of Independent States (CIS) in 2008. However, only for the ease of categorization, the country is still listed in our publications under the CIS category

Flag_of_Georgia
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Flag_of_Georgia
Location map
author: OCHA/ ReliefWeb


Location:
- Southwestern Asia, bordering the Black Sea, with a sliver of land north of the Caucasus extending into Europe.
- Neighbours: Azerbaijan, Armenia, Turkey, Russia.

Climate:
- warm and pleasant;
- Mediterranean-like on Black Sea coast.

Natural hazards:
- earthquakes.

Macro indicators
* 2018 estimates
Surface:69,700km2
Population*:3.7million
Pop. density*:53.2people/km2
GDP*:13.5EUR billion
GDP/capita*:3,632.2EUR

Currency: Lari
Code: GEL
Since: 1995


Insurance market portfolio
* 2018 estimates
TOTAL LIFE*:7%
TOTAL NON-LIFE*:93%
Overall Property*:16%
Overall Motor*:24%

Sources:



 


Statistics

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Georgia 3Q2023 Market Portofolio

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Georgia 3Q2023 Market Ranking


See all statistics

Latest news










GEORGIA: Demand for private health insurance has dropped significantly

As of now, approximately 50,000 private health insurance policies are effective on the Georgian insurance market. At the same time, the demand for private policies has significantly decreased after introduction of the state insurance system, as noted by the President of the Insurance Association Devi Khechinashvili,

Global Benefits Georgia insures the USD 300 million construction project in Tbilisi

The risk management and insurance company Global Benefits Georgia has insured an unprecedented construction project of Orbi Group and Block LLC "Central Park Tower". The investment volume of the construction project is 300 million US dollars. Total premium of Global Benefits Georgia's insurance package is 1 million Gel (~EUR 350.877).







Aldagi to become first Reinsurance Company in Georgia

The leading property and casualty ("P&C") insurance company in Georgia, Aldagi further expands its business towards underwriting inwards reinsurance in the region. By doing this, Aldagi sets a precedent for the Georgian industry, being the first insurance company in the market that will also function as a reinsurer.