At the end of 2023, the profit of insurance companies amounted to GEL 248.5 million, net profit - GEL 73.5 million against GEL 210 million and GEL 39 million last year.

As for the collected insurance premium from direct insurance activity, it amounted to 1.063 billion GEL, which is a record figure. The premium raised in 2022 was 910 million GEL.

In 2023, the insurance premium from direct insurance activities amounted to GEL 1.063 billion that is a record high. The premium collected in 2022 stood at GEL 910 million.

According to the report, 2 out of 18 insurance companies saw losses.

Losses suffered by the insurance companies are as follows:

JSC Risk Management and Insurance Company Global Benefit Georgia — a loss of GEL 1.747.

The premium collected by "Benefit" last year amounted to GEL 40 million that is 2-fold more compared to 2022. The company’s reimbursed loses stood at GEL 25 million.

Prime — loss of GEL 1.285 million, collected premium of GEL12 million, reimbursed losses of  7.6 million GEL;

As of December 31, 2023, 18 insurance companies licensed to sell life and non-life insurance were registered in the country.