Georgia

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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

Georgia 1Q2019 Insurance Companies Rankings

Georgia 1Q2019 Market Portofolio


See all statistics

Latest news

GEORGIA: adoption of the law on MTPL postponed

The discussion of the MTPL bill, based on which the mandatory motor third party insurance system was supposed to be introduced from July 1, 2019, was postponed for September, as Business Georgia reports.





GEORGIA: MARSH enters local market

MARSH, a global leader in insurance broking and risk management, advising clients in over 130 countries, is beginning operation in Georgia, in partnership with the ARRIBA company, Business Georgia reports.

GEORGIA: GPI Holding - Estonian model will boost insurance business

Applying the Estonian model for profit taxation (insurance companies will not be subject to income tax on reinvested profits) will boost development and growth, according to the General director of GPI Holding, Paata LOMIDZE, reported Caucasus Business Week.











GEORGIA: Starting in 2019 the model of financing universal health insurance in the country will change

Beginning in 2019, Georgia will change the model of financing within the General Health Insurance program. According to the Ministry of health the new system of reimbursement provides for transition to a model of diagnostically related groups (DRG), based on which a patient's diagnosis, age, length of hospitalization, and other criteria will determine the amount of funding, wrote Business Georgia.