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

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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 1H2022 Market Portofolio

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Georgia 1H2022 Insurance Companies Rankings


See all statistics

Latest news

















GEORGIA: only 2% of GDP is spent on insurance

Premiums paid by clients of insurance companies in Georgia amount to only 2% of GDP, which is about 4 times less than the world average. As Soso ARCHVADZE, an expert in statistics, noted, if Georgia on average lags behind the development level of the world economy by 10-15%, then its lag in the insurance segment is much higher, Business Georgia reports.


GEORGIA: real estate is insured only for 6.9% of the population

Currently, in Georgia, real estate is insured only for 6.9% of the population, since no one insures property voluntarily - mainly clients of insurance companies in this segment are legal entities or buyers of apartments in the primary real estate market who received mortgage loans and are required to purchase insurance, Business Georgia writes.