STATISTICS: GEORGIA, 1Q2016: Insurance business grew by 12.71%; a positive trend was seen on almost all types of insurance

In January-March 2016, the Georgian insurance market increased by 12.71% y-o-y in local currency to GEL 130.66 million (EUR 48.76 million), according to the data published by the Insurance Supervisory Office - ISO.

The positive trend recorded by the local insurance industry was driven by the increasing of GWP reported in almost all business lines, except for the Property insurance, CARGO and Suretyship lines.

According to the quarterly results, IMEDI L remained the market's leader in terms of GWP and accounted for the largest share on the local market (23.93%); the second place was occupied by PSP with a 20.04% market share. GPI Holding, member of VIENNA Insurance Group since 2006, ranked third with 18.60%, followed by ALDAGI (11.44%) and ARDI Insurance (6.52%).

Access www.xprimm.com and download the 1Q2016 Georgian insurance market statistics.

Market portfolio (in EUR and GEL):
  • Gross written premiums
  • Paid claims
  • Growth rates

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