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Tag Archives: Insurance

Insured Deposits Exceed 1.5 billion GEL

Insured deposits at commercial banks constituted 1 251 774.70 GEL, which were paid by commercial banks in July 2018. According to Deposits Insurance Agency, as of June 39, total amount of deposits at commercial banks made up 20 419 077 133 GEL, including retail deposits of 10 842 231 644 …

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Only 15% of Population Use Private Medical Insurance Service

Only 15% of population use private medical insurance. According to the information published by Insurance Supervision Service, in the first quarter of 2018, a total of 554 070 citizens owned insurance policy, up 14 885 policies year on year. In whole, the insurance companies attracted about 90 million GEL in …

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Georgian Insurance Market – Industry Evaluates 2017 Year

The Georgian insurance market registers 16 operators. The industry representatives assert that competition is sharp. As a result, customers have access to various insurance products and services. At this stage, the 2017 financial indicators remain unknown. However, according to the official statistics of the Insurance State Office, in January-September insurance …

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Foreigners to Insure Motor Vehicles in Georgia From Next Year

Foreigners will have to insure motor vehicles in Georgia and without doing this they will not be able to move through the territory of the country, the Georgia Online news portal reported. The insurance of foreigners’ civil liability is stipulated by the law, which has already been approved by the …

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Aldagi Introduces Personal Responsibility Insurance

Aldagi insurance company has introduced a personal responsibility insurance package that unites travel insurance, body injury inflicted to the third person and insurance of physical damage of material property. As part of individual insurance, the company offers three different versions of travel insurance: Standard, Comfort and Premium. The mentioned packages …

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Uninsured Trade and Business amid Frequent Conflagrations

Over the past 5 years several trade centers burnt down in Georgia. In most cases, property turned out uninsured. This factor generates huge problems. For many years, insurance sector specialists stress that there is no insurance culture in Georgia. Insurance experts point out that the country does not provide satisfactory …

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New Insurance Company Appears on Market

New Insurance Company Appears on Market

Georgian Insurance Group has launched operation on insurance market. The company has already obtained life and non-life insurance licenses. The company was founded in May 2017. The company’s starting capital is 2 200 100 GEL. Archil Morchiladze owns a 51% stake in the company, while NewMedi holds a 49% stake. …

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