STATISTICS: GEORGIA, 3Q2016: The two VIG units are holding about one third of the market

The Georgian insurance market posted a 8.2% y-o-y GWP growth-rate, to GEL 316.3 million (about EUR 121 million), according to the 3Q2016 figures published by the Insurance Supervisory Office - ISO.

The positive trend reported by the local insurance industry was driven by the increasing GWP recorded by the following classes: GTPL (+66% y-o-y), travel (+16%), health (+13%), life (+12%) and MTPL (+10%). The mentioned classes accounted for 63% of the total market - of which 46.4% - health.

Member of VIENNA Insurance Group since 2006, GPI Holding accounted for the largest share on the local market: 22.6%. ALDAGI ranked second, with a 19.4% market share followed by IMEDI L (17.7%). Top 5 was completed by PSP Insurance (9.3) and the other VIG insurer - IRAO (7.8%).

Access www.xprimm.com and download the 3Q2016 Georgian insurance market statistics.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

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