Georgia’s Biggest Insurance Companies

Georgia’s Biggest Insurance Companies

By the end of the third quarter of 2017, there were 16 insurance companies registered in Georgia, 15 of which hold the life and non-life insurance license and one is licensed only to issue non-life insurance.

During the three quarters, the insurance premium paid for direct insurance performance, made 345.72 mln GEL.

Net profit of the companies was 13.15 mln GEL, assets are worth of 597.10 mln GEL and capital is equal to 152.42 mln GEL. To compare, within the same period of last year, net profit of the companies was 9,8 mln GEL more and made 22.98 mln GEL.

With the attracted insurance premium, the leader is GPI Holding (83.28 GEL), followed by Aldagi with 71.4 mln GEL and Imedi L with 43.8 mln GEL.

Within the accounting period, the biggest damage was compensated by GPI Holding (40.3 mln GEL), Imedi L (33.6 mln GEL) and PSP (22.8 mln GEL).

By the types of insurance, most of the premiums are traditionally for health insurance, followed by road transport insurance and property insurance.

With regard to medical insurance, the biggest share of the market is held by GPI Holding (31%), followed by Imedi L with 25% and PSP with 15%. 10% of the health insurance market is held by Ardi and 6% – by Irao.

The leader at the property insurance market is Aldagi with 43%, followed by GPI with 22% and Unison with 11%.

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