In 2023, the insurance companies earned GEL 248.5 million in profit, the net profit was 73.5 million GEL. In the same period of last year, the insurance profit stood at GEL 210 million, the net profit made GEL 39 million.

According to the Insurance State Supervision Service, the insurance premium from direct insurance activity amounted to GEL 1,063.6 million in 2023.
The total amount of assets of insurance companies reach GEL 1,300.9 million, the capital stood at 374.3 million GEL.

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