In 6 months of 2024, the insurance premium collected from direct insurance activities amounted to GEL 712 million. In the same period, the insurance profit stood at GEL 145 million, the net profit amounted to GEL 67 million that is a two-fold increase.
According to the reports of the companies, 3 out of 19 insurance companies saw losses.
Loss-making insurance companies are as follows:
• Green Insurance Georgia — loss of 263,800 GEL.
The premium collected by "Prime" in 2024 reached 2 million GEL. The insurance loss paid by the company made 4.3 million GEL.
• JSC Risk Management and Insurance Company Global Benefit Georgia - loss of 742,908 GEL.
The premium collected by "Benefit" in the first half of the year amounted to 41 million GEL that is GEL28 million more compared to 2023. The compensated insurance loss amounted to GEL 17 million.
• PSP insurance - loss of 1.3 million GEL.
The premium collected by "PSP" in the first half of the current year amounted to 32 million GEL that is 24 million more compared to 2023. The company’s compensated insurance loss stood at GEL 19 million.
As of June 30, 2024, the country has 19 insurance companies holding life and non-life insurance licenses.
