The Georgian Insurers Association anticipates that the volume of premiums collected by the insurance sector this year will reach GEL1.5 billion.
Devi Khechinashvili, Chairman of the Board of Directors of the Association, states that the market growth rate slowed down during certain periods of the year, although an annual growth of approximately 17-18% is still expected to be recorded.
"Today we see that there were periods when the [insurance] market seemed to slow down, then the growth seemed to accelerate again. We still think that by the end of the year we will reach the 1.5 billion mark. That is, the growth will be approximately at the same level as in recent years. If there are significant changes in government policy, then it will be a different [growth], but already next year," notes Devi Khechinashvili.
According to the Chairman of the Board of the Insurance Association, the volume of insurance premiums collected by companies is growing both due to an increase in the number of insured individuals and price hikes.
"If you look at the data, there is, of course, an inflationary component, as in everything, but the number of insured individuals is also growing. While not as much as we expected, in health insurance alone, a growth of 7-8% is a significant figure. In auto insurance, despite a very low number of insured vehicles, a growth trend is still observed," Devi Khechinashvili points out.
Note: According to the State Insurance Supervision Service, insurance companies collected nearly 1.1 billion GEL in premiums during the first 9 months of 2025. Compared to the same period last year, the revenues of insurance companies increased by 11.6%.
