In 2023, the country has 720,944 valid medical (health) insurance policies. Only 19% of the population uses private health insurance but the statistics are growing. In 2022, the number of policies made 682,152, the share of the people with private insurance was 18%.
According to the state insurance supervision service, in 2023, the premium collected in the health insurance amounted to GEL447 million.
In 2023, the insurance premium from direct insurance activities amounted to GEL 1.063 billion that is a record high.
In the same period insurance companies earned GEL 248.5 million in profit, the net profit stood at GEL 73.5 million.
As of December 31, 2023, 18 insurance companies licensed to sell life and non-life insurance were registered in the country.
