STATISTICS: GEORGIA, FY2015: The two units of VIG accounted for about 30% of local insurance market

The Georgian insurers market ended the financial year 2015 in black, as gross written premiums increased by 19% y-o-y to GEL 360 million (EUR 137.5 million), according to the State Insurance Supervision Service of Georgia reports.

The aggregate GWP portfolio consisted mainly of health insurance - GEL 150 million (~43% of total GWP), followed by property insurance line - GEL 69 million (19% of total), motor hull policies - GEL 56 million (16%) and life segment - GEL 25 million (7%).

Up until December 2015, in the Georgian insurance market operated 14 companies.

By gross premium written volume, the market leader was GPI Holding VIG with GEL 73 million (~EUR 28 million, 20.3% market share), followed by ALDAGI - GEL 71 million and IMEDI-L with GEL 63 million.

The fourth an fifth places were accounted by UNISON - GEL 31 million and IRAO VIG - GEL 29 million.

Access www.xprimm.com and download the FY2015 Georgian insurance market statistics.

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

Market rankings (GWP/Claims/Market shares/Growth rates - in EUR and GEL):
  • Total market ranking
  • Life insurance ranking
  • Non-life insurance ranking

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

Share |

Related articles

ON THE MOVE

TOP EVENT

LIVE: IIS Global Insurance Forum 2018 / Day2

The works of the Global Insurance Forum continued today in Berlin, Germany. Providing security for ageing populations in health care and pensions terms, as well as innovation and InsurTech or innovative strategies for the future development of the industry are on the today's agenda.

10.07.2018

See all