Imedi L CEO sees no problem in banks’ involvement in the insurance business

Imedi L CEO sees no problem in banks’ involvement in the insurance business

access_time2019-05-20 12:19:42

 “The emergence of any new player in the health care market, as well as in any other market, will only improve conditions for customers,” Givi Giorgadze, CEO at  the insurance company Imedi L, says commenting on General Director of TBC-Insurance Paata Gadzadze’s words that formation  of an insurance company does not contain a conflict of interest with the bank, since Georgian legislation does not prohibit commercial banks from owning financial assets - and the insurance company  is a financial asset.

He sees much bigger conflict of interest when the insurance company owns a clinic or a pharmacy chain, which is common  in Georgia.

Imedi L CEO hails the growing competition and sees no problem in ownership of insurance companies by commercial banks if this does not contradict law.


Imedi L is the largest company in Georgia’s health insurance market which meets all standards of transparency and corporate management, its shares are listed on the London Stock Exchange (LSE).



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