STATISTICS: Georgia, 3Q2017: The local market went up by 9.30%, to GEL 345.72 million

In 3Q 2017, the Georgian insurance market went up by 9.30%, to GEL 345.72 million, according to data published by the Insurance Supervisory Office - ISO. Claims paid by insurers increased by 7.40% to GEL 174.09 million.

On insurance classes, the life segment decreased by 14.29%, while the non-life GWP increased by 10.88% due the strong increase reported by the motor insurance, aviation hull insurance, property insurance, financial risks and cargo classes.

The Top-5 insurers generated about 73.30% of the market GWP: GPI Holding VIG accounted for the largest share on the local market (24.09%), followed by ALDAGI (20.59%), Imedi L (12.68%), PSP Insurance (8.41%) and ARDI Insurance (7.53%).

Access www.xprimm.com and download the 3Q2017 Georgian insurance market statistics.

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

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