Location map
author: OCHA/ ReliefWeb

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

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

Natural hazards:
- earthquakes.

Macro indicators (* 2018 estimates)
GDP*:-EUR billion

Currency: Lari
Code: GEL
Since: 1995

Exchange rates at December 31st:

1 EUR = 3.0701 GEL (2018)
1 EUR = 3.1044 GEL (2017)
1 EUR = 2.7940 GEL (2016)
1 EUR = 2.6169 GEL (2015)
1 EUR = 2.2656 GEL (2014)
1 EUR = 2.3891 GEL (2013)
1 EUR = 2.1825 GEL (2012)
1 EUR = 2.1614 GEL (2011)
1 EUR = 2.3500 GEL (2010)




Georgia FY2018 Market Portfolio

Georgia FY2018 Rankings

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Latest news

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.

GEORGIA: ALDAGI BCI became 85% owner of the IMEDI L

The largest player was established in the Georgian insurance and hospital markets, as on April 5th, insurance Company ALDAGI BCI became the owner of an 85% capital share of IMEDI L, in a deal of GEL 8 million (EUR 3.8 million), announced by COMMERSANT.

GEORGIA: VIG confirmed in 3Q2011 the market leader position recently gained

In January-September, 2011, Georgian insurers generated a premium volume of EUR 116 million, 6% less compared to 3Q2010. Despite this decrease, life insurance premiums recorded a double value to EUR 5 million, but this type of insurance is still significantly under-represented, with a share of less than 5% in the total premium volume.

Georgia: The health insurance segment maintained the market at its 2009 level

The insurance market in Georgia has seen a slight increase in 2010 of the gross written premiums of 0.27%, up to GEL 361.46 million (EUR 152.24 million) as compared with the similar period of 2009, when the profile companies underwrote GEL 360.45 million (EUR 151.82 million), according to the most recent data published by the National Bank of Georgia.

Georgian Government will subsidize health insurance

Georgian Government and insurance companies have signed an agreement which includes the initiative of President of Georgia, Mikheil SAAKASHVILI, about the accessibility of population to health insurance.