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Paata Ghadzadze to Quit TBC Bank

Paata Ghadzadze plans to quit TBC Bank, but he remains the team member.

According to TBC Bank Group, the TBC Bank deputy director general will leave the position on January 1, 2019. He will continue his career in the insurance sector on the position of TBC Insurance director general.

Paata Ghadzadze joined the TBC Bank team in 1994, while in 1998 he was appointed as deputy director general.

“Considering high paces of growth and ambitious plans of TBC Insurance, it is necessary to valuably involve Paata Ghadzadze in this business”, TBC Bank director general Vakhtang Butskhrikidze noted. 

TBC Insurance appeared on the market in 2017. TBC acquired Kopenbur insurance company for 1.4 million USD in 2016. 

As of October 1, 2018, TBC Insurance holds 44.59 million USD portfolio and ranks 4th on the market. In automobile insurance segment the company has attracted 15.5 million GEL premium and holds 24% ratio on the market. The company’s ratio in life insurance segment is 50% (13.7 million GEL).