Economy
Posted: 3 years ago

Supervisory Capital Growth Obligation Postponed

The obligation on insurance companies for growing the supervisory capital has been postponed for the end of 2021, David Onoprishvili, head of the Insurance Supervisory Service noted at the meeting with the insurance industry representatives.

“We also had the variant for growing the capital by GEL 1 million. Finally, we agreed on this decision”, Onoprishvili pointed out. The meeting behind the closed door was attended by representatives of about 10 insurance companies. We remind you that the minimum supervisory capital for insurance companies makes up GEL 4.2 million and this amount was to grow up to GEL 7.2 million.