The profit of insurance companies was increased 9 times in 2016. According to the data State Insurance Supervision Service published in 2016, insurance companies had a profit of 18, 86 million GEL which amounted to 2.63 million in 2015.
The amount of insurance premium was increased as well. During 2016, it amounted to 393.04 million GEL, whereas it was 359.80 million in 2015.
The mobilized capital amounted to 136.27 million GEL and it is increased as well compared to 2015.
By the end of 2016, out of 14 insurance companies, 13 of them possessed life and general insurance license.