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“International Insurance Consortium” will invest up to 7 million GEL in the development of “IC Group Insurance Company”

On November 8, 2016, at 16:00, in Hotel “Biltmore” (29 Rustaveli Avenue, Tbilisi), “International Insurance Consortium” (Netherlands) and “Insurance Company IC Group” will sign the agreement, according to which, up to 7 million GEL will be invested into the Georgian insurance company. The Georgian side will hold 51% of shares, and the Dutch side – 49%.

The investment agreement will be signed by the General Director of “IC Group”, Tengiz Mezurnishvili and the Founder and Director of “International Insurance Consortium” (Netherlands), Jacob Westerlaken.

The investment will be aimed at the growth and development of the company. This will increase the job opportunities, and in the near future IC group will operate on the Georgian market in the renovated form.

At the event speeches will be delivered by:

  • Tengiz Mezurnishvili General Director of “IC Group”;
  • Jacob Westerlaken Founder and Director of “International Insurance Company” (Netherlands)
  • Joseph Gogolashvili Head of LEPL Insurance State Supervision Service of Georgia
  • Devi Khechinashvili – Chairman of the Georgian Insurance Association

The signing ceremony will be attended by representatives of the Georgian Government, representatives of business sector, insurance companies, media, and other interested parties.

“IC Group” was founded on November 10, 2005. From the first days the company successfully operated on the insurance market and in the existing competitive environment soon managed to become one of the significant market players. After acquisition of “People’s Insurance” in May 2009, “IC Group” became one of the leaders in health insurance.

As a member of the Chamber of Commerce and Industry (France, Georgia), Business Association, and Georgian Insurance Association, he company is actively involved in the development of legislative regulations. “IC Group” constantly arranges trainings for the staff and sponsors their participation in international workshops, finances Masters Programs for postgraduates.  Currently the company has more than 100 highly qualified employees. “IC Group” is a socially responsible company that respects traditions and business ethics. “Keep the promise” – this is the main credo of “IC Group”.

 The International Insurance Consortium has valuable knowledge and expertise in all areas related to insurance and social security. IIC is currently involved in the projects across 8 countries. It is represented in 4 countries by: IIC Netherlands, IIC Slovenia, IIC Ukraine and IIC Georgia.  Its core activities include consulting and providing investments in order to support local companies and organizations in their strategic approaches and risk management decisions.  

The Consortium focuses on partnership with insurance companies operating in SouthEast and East Europe and the Black Sea region. The Consortium provides long term investments, thus creating the basis for stable development of the companies and benefiting from the existing networks and potential, as well from the investors knowledge and expertise.