In 1Q2017, the Georgian insurance market went up by 10.05%, to GEL 143.80 million (EUR 54.75 million), according to the data published by the Insurance Supervisory Office - ISO.

The value of claims paid by insurers decreased by 0.86% to GEL 56.99 million.

On insurance classes, the life segment decreased by 22.44%, while the non-life GWP increased by 12.42% due the strong increase reported by the motor insurance, property and Cargo classes.

The top-5 insurers generated about 79.54% of the market GWP: GPI Holding VIG accounted for the largest share on the local market (28.32%), followed by PSP (17.86%), ALDAGI (13.92%), Imedi L (13.22%) and ARDI Insurance (6.23%).

Access www.xprimm.com and download the 1Q2017 Georgian insurance market statistics.