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Tag Archives: Insurance

Dutch Insurance Company Invests GEL 7 Million in Georgia

On November 8, 2016, the “International Insurance Consortium”, a Dutch insurance company, signed an agreement to invest GEL 7 million into the Georgian “IC Group Insurance Company”.   The investment agreement was signed by the General Director of “IC Group”, Tengiz Mezurnishvili and the Founder and Director of “International Insurance Consortium” (Netherlands), …

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Insurance Business Demands For Introducing Mandatory Insurance Componet

Currently, Georgian insurance market unites 14 insurance companies and the market competition is very sharp. As a result, Georgian citizens are able to receive various insurance products and services. At this stage, the January to September indicators have not been published yet, however, according to the January to June report, …

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Insurance Sector Finished 1H16 by 12.4 million GEL Profits


The Georgian insurance industry has ended the first half of 2016 by 12.4 million GEL profits, as compared to 2.26 million GEL losses in the same period of 2015. At the same time, the Georgian insurance sector finished the year of 2015 by 2.6 million GEL profits. In the reporting …

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Israel Country, Where Health Insurance is Mandatory for All Citizens

Georgia launched the universal health program in 2013. The program financing amount grows year by year, but representatives of opposition parties frequently criticize this program. They urge the government to change the program purpose and determine the list of services clearer. Most frequently, opponents suggest the ruling team to activate …

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Insurance Sector Ends First Quarter in Profits

The Georgian insurance sector finished the first quarter of 2016 in 4.4 million GEL profits, while the sector’s losses in the same period of 2015 marked 3.3 million GEL. At the same time, the insurance sector ended the previous year in 2.6 million GEL profits. In the reporting period, the …

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61% of Population Want High-Income Citizens to Pay Higher Insurance Premium

Transparency International – Georgia conducted a  survey all over Georgia. The survey process was carried out by the Caucasus Research Resources Center (CRRC) and 2032 citizens were questioned. According to the research, 61% of the population suggest that high-income citizens should pay higher health insurance premium and in this way …

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Embracing European Standards: State-Free Insurance in Georgia

The year of 2015 brought many risks to the Georgian insurance industry. The Tbilisi natural disaster reminded the insurance companies, the Authorities and ordinary citizens that the insurance culture in the country is undeveloped and this direction should be somehow stimulated, even at the legislative level. In 2016, the companies …

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