The insurance market saw novelty – Insurance Company IC Group became a member of Eastern Europe’s largest Euroins Group.
To complete the first phase of the merging process, on December 11, 2018, Georgia was visited by Euros Insurance Group (EIG), Deputy Executive Director Georgi Markov and Director of the Board of Directors Cagatay Uludag, who will also join the Board of Directors of Euroins Georgia at the position of Strategic Development Director.
“IC Group” will now work on the Georgian market under Euroins name and will fully implement the practices of the European insurance company, international experience and modern insurance systems already approved in Europe that are eligible to the local consumer market.
The acquisition of Georgian Insurance Company is part of the Euroins Group Development Strategy. The main reason for the decision to enter Georgia is the Europe Group’s representatives, the healthy business environment, economic growth and the dynamical development forecasts of the insurance sector. It is important to note the existence of the legislative base in Georgia and the role of supervising service, which has effectively issued a permit and played an important role in the successful completion of the transaction.
“Georgia is a rich tradition and heritage country, located on strategically important crossroads, both regionally and globally. “IC Group” was founded as a trusted partner whose professional team has many years of experience, willingness to change, and most importantly the ability to implement our international competitive plans in the entire region. Our goal is to develop insurance product in Georgia, “said Georgi Markov, deputy executive director of Euroins on the background of high quality service, customer satisfaction and high confidence building.
Besides attracting foreign investment, Euroins Insurance Group (EIG) will also implement western expertise and knowledge in Georgia. It is planned to rotate company colleagues in different European countries in insurance companies and training centers, as well as foreign specialists, will arrive in Georgia, which will enable the company to share knowledge and experience.