GEORGIA: TBC Insurance was the fastest growing insurer in 2017 and 2018

Georgian TBC Insurance ended 1H2019 with GWP worth GEL 39.3 million (EUR 12.03 million) and a net profit of GEL 5.96 million (EUR 1.82 million), which is 42% up y-o-y, in local currency. The growth rate achieved in GWP was close to 20% (in GEL), which qualifies the company as the fastest growing in the Georgian market in 2017 and 2018.

JSC TBC Insurance is a subsidiary of the largest financial institution in Georgia - TBC Bank Group PLC, that is listed on the premium segment of London Stock Exchange since 2016.

The company was born through the acquisition, in 2016, of Kopenbur by the TBC Group Plc and its rebranding to TBC Insurance. After changing ownership, the company has significantly enlarged its range of products, added distribution channels and diversified into new client segments. In less than three years TBC Insurance has become a market-leader in Retail insurance segment with over 33% market share and is the fastest growing insurance company on the Georgian market.

In 2018, TBC Insurance managed to assert itself as leader on different market segments. Thus, TBC insurance was the No.1 company on the retails segment (33% market share), as well as on the life insurance sector (47.2% share). It also held the second-best ranking on the non-health total market (20.4% share) and in motor insurance (25%).



By constantly developing digital and technological solutions, TBC Insurance aims to make insurance easy and accessible for everyone. As such, it was the first insurance company in Georgia to implement fully automated insurance sales process through Facebook Chat bot in 2017, already selling more than 50% of retail policies through digital channels and indemnifying 35% of claims using distant channels.

TBC Insurance offers wide range of products to corporate and retail customers covering risks related to Property & Engineering, Liability, Personal, Motor, Marine, Agro, Life and Health insurance.

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