Insurance companies in Georgia released a report, revealing a net profit of GEL 115 million for the first nine months of 2024, a 1.8x increase from last year, the State Insurance Supervision Service states.
The most important aspects of the report are as follows:
- Revenue: GEL 243 million.
- Insurance premiums: GEL 983 million (20% increase year-on-year).
Top 5 Insurance Services:
- Medical (health) insurance – GEL 428 million
- Land vehicle insurance – GEL 192 million
- Property insurance – GEL 111.8 million
- Life insurance – GEL 81.2 million
- Civil liability insurance – GEL 61.7 million
The industry’s overall assets reached GEL 1,32 million, with 19 insurance companies operating under a license, covering life and other insurance services.
