Georgia

Location:
Southwestern Asia, bordering the Black Sea, between Turkey and Russia, with a sliver of land north of the Caucasus extending into Europe



Climate:

warm and pleasant; Mediterranean-like on Black Sea coast

Natural hazards:
Earthquakes

Currency: Lari (GEL)
1 EUR = 2.7940 Lari - GEL (December 31st, 2016)
1 EUR = 2.6169 Lari - GEL (December 31st, 2015)
1 EUR = 2.2656 Lari - GEL (December 31st, 2014)
1 EUR = 2.3891 Lari - GEL (December 31st, 2013)
1 EUR = 2.1825 Lari - GEL (December 31st, 2012)
1 EUR = 2.1614 Lari - GEL (December 31st, 2011)
1 EUR = 2.3500 Lari - GEL (December 31st, 2010)

Sources:
National Bank of Georgia
State Insurance Supervision Service

Insurance statistics

1H2017Market portfolioxlsx
1H2017Insurance companies rankingsxlsx
1Q2017Market portfolioxlsx
1Q2017Insurance Companies Rankingsxlsx
FY2016Market Portfolioxlsx
FY2016Insurance Companies Rankingsxlsx
3Q2016Market portfolioxlsx
3Q2016Insurance Companies Rankingsxlsx
1H2016Market portfolioxlsx
1H2016Insurance companies rankingsxlsx
1Q2016Market portfolioxlsx
1Q2016Insurance Companies Rankingsxlsx
FY2015Market Portfolioxlsx
FY2015Insurance Companies Rankingsxlsx
3Q2015Market portfolioxlsx
3Q2015Insurance Companies Rankingsxlsx
1H2015Market portfolioxlsx
1H2015Insurance companies rankingsxlsx
1Q2015Market portfolioxlsx
1Q2015Insurance Companies Rankingsxlsx
FY2014Market Portfolioxlsx
FY2014Insurance Companies Rankingsxlsx
3Q2014Market portfolioxlsx
3Q2014Insurance Companies Rankingsxlsx
1Q2014Market portfolioxlsx
1Q2014Insurance Companies Rankingsxlsx
1H2014Insurance market overview pdf
1H2014Market portfolioxlsx
1H2014Insurance companies rankingsxlsx
1Q2014Market portfolioxlsx
1Q2014Insurance Companies Rankingsxlsx
FY2013Insurance market overview pdf
FY2013Market Portfolioxlsx
FY2013Insurance Companies Rankingsxlsx
1H2013Insurance market overview pdf
1Q2013
Insurance Companies Rankingsxlsx
1Q2013Market Portfolioxlsx
FY2012Insurance market overview pdf
FY2012Insurance Companies Rankingsxlsx
FY2012Market portfolioxlsx
3Q2012Insurance Companies Rankingsxlsx
3Q2012Market Portfolioxlsx
1H2012Insurance market overview pdf
1H2012Insurance Companies Rankingsxlsx
1H2012Market Portfolioxlsx
1Q2012Market Portfolioxlsx
1Q2012Insurance Companies Rankingsxlsx
FY2011Market Portfolioxlsx
FY2011Insurance Companies Rankingsxlsx
3Q2011Insurance market overview pdf
3Q2011Market Portfolioxlsx
3Q2011Insurance Companies Rankingsxlsx
1H2011Insurance market overviewpdf
1H2011Market portfolio and rankingsxlsx

1H2017 Market portfolio

1H2017 Insurance companies rankings

See all statistics

GEORGIA, FY2013: Insurers ended the year with a slump

The Georgian insurance market ended the financial year 2013 with a slump, as gross written premiums decreased by 16.50% in European currency, to EUR 197.21 million (GEL 471.15 million), according to the reports of the Georgian State Insurance Supervisory Service. Since April 15, 2013 the state supervision over insurance activities has been carried out by the Service for the state insurance supervision and not by the National Bank of Georgia, as was the case before.

GEORGIA: Health insurance - a new business opportunity for insurers?

On February 28th 2013, the universal healthcare program was launched in Georgia, addressing the needs of citizens who do not have adequate health insurance. In less than five months 1,347,658 people have been enrolled, more than 40 thousand of those being served in an out-patient setting, and almost 15.5 thousand receiving treatment in hospital, which cost the state treasury of Georgia nearly GEL 6.4 million.

GEORGIA 1Q2013: Health insurance on the raise; preparing for MTPL

On February 28th this year the universal healthcare program was launched in Georgia. This concerns the interests of citizens who do not have adequate health insurance. In less than five months since this program was initiated 1,347,658 people have been enrolled, more than 40 thousand of those being served in an out-patient setting, and almost 15.5 thousand receiving treatment in hospital, which cost the state treasury of Georgia nearly GEL 6.4 million.

GEORGIA, FY2012: Health above all

The Georgian insurance market ended the financial year 2012 in black, as gross written premiums increased by 60.5% y-o-y to GEL 515 million (EUR 236 million), as the National Bank of Georgia reports. About three quarters of this value was generated by only one segment: health insurance.

ARMENIA hails GEORGIAN experience in health insurance

Armenian ambassador to Georgia Hovhannes Manoukian met March 12 with Georgian Healthcare Minister David Sergeyenko. Ambassador Manoukian voiced hope that the cooperation between the countries will continue. Minister Sergeyenko, in turn, noted Armenian-Georgian collaboration in healthcare sector as a significant area in bilateral relations.

GEORGIA, 3Q2012: Impressive growth continues

The total insurance premium volume in Georgia increased impressively to EUR 215 million (GEL 460.3 million) in the period January - September 2012, 75% more as compared with the same period a year ago, according to the data published by the National Bank of Georgia. In terms of claims, the local insurers paid out EUR 83.6 million in insurance damages until the end of September, 10.7% more y-o-y.

GEORGIA: 24% growth for the insurance market in 1H 2012

Georgian insurers posted underwritings worth GEL 233.9 mil (EUR 115 million) between January-June 2012, a 24.3% growth in national currency as compared with the 1H 2011 results. Paid claims have increased by 1.2% reaching GEL 118.2 million (EUR 58 million), according to financial results published by the National Bank of Georgia.

GEORGIA: From red (FY11) to black (1Q12)

Following negative figures registered during the whole year 2011, the insurance sector saw growth momentum into first quarter of 2012. Practically, Georgian insurance industry ended 1Q2012 with a respectable growth of 67 per cent over the previous year.