In the first 6 months of 2020, insurance companies' net profits up 49%

In the first 6 months of 2020, insurance companies' net profits up 49%

access_time2020-08-11 13:00:21

In  6 months of 2020, the insurance sector’s premiums amounted to GEL 376.9 million that is 9% more than in the same period in 2019 -  the Insurance State Supervision Service of Georgia (ISSSG) reports.

 

In  the same period, the insurance companies earned GEL  89.5 million in profit that  is 23% more than in the first 6 months of 2019. The net profit of the insurance sector amounted to GEL 29.2 million which is 49% more than in the same period in 2019.

 

The total assets of insurance companies amounted to GEL 976.7 million, volume of capital - 273.9 million. It’s worth mentioning  that in the first 3 months of 2019, the net profit of insurance companies amounted to GEL 8.3 million, the volume of assets - 766.2 million, capital – GEL 230, 2 million.


 

16% of the Georgian population use private health insurance while only 7% of the registered car fleet is insured in the country.

 

607,330 health insurance policies are in force in the country, and 92,753 cars are insured as of the first half of 2020.

 

Health insurance is still the leader in the market and  accounts for 45% of the total insurance. transport accounts for 16%, property-  16%, life insurance- 7%, vehicle owners’ civil liability - 5%,  civil liability- 4%, the rest -  7%.


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